Roth Capital Lowers DiaMedica Therapeutics (NASDAQ:DMAC) Price Target to $24.00

DiaMedica Therapeutics (NASDAQ:DMAC) had its price target dropped by equities researchers at Roth Capital from $32.00 to $24.00 in a research report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. Roth Capital’s price objective would indicate a potential upside of 472.79% from the company’s previous close.

Several other research analysts have also recently weighed in on DMAC. Maxim Group cut their price target on shares of DiaMedica Therapeutics from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, June 30th. Zacks Investment Research lowered shares of DiaMedica Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $21.00.

DMAC traded up $0.27 during midday trading on Monday, hitting $4.19. The company had a trading volume of 7,866 shares, compared to its average volume of 203,596. DiaMedica Therapeutics has a 52 week low of $3.00 and a 52 week high of $10.88. The company has a market capitalization of $78.71 million, a price-to-earnings ratio of -5.37 and a beta of 2.53. The stock’s 50 day moving average price is $3.77 and its 200 day moving average price is $6.45.

DiaMedica Therapeutics (NASDAQ:DMAC) last posted its earnings results on Wednesday, August 11th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. Sell-side analysts forecast that DiaMedica Therapeutics will post -0.86 EPS for the current fiscal year.

In other DiaMedica Therapeutics news, VP Harry W. Alcorn, Jr. purchased 20,322 shares of the firm’s stock in a transaction that occurred on Monday, August 16th. The stock was bought at an average cost of $3.09 per share, for a total transaction of $62,794.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Harry W. Alcorn, Jr. purchased 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The stock was acquired at an average price of $3.80 per share, with a total value of $57,000.00. Following the completion of the purchase, the senior vice president now owns 43,582 shares in the company, valued at $165,611.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 55,322 shares of company stock valued at $184,545. Corporate insiders own 12.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC purchased a new stake in shares of DiaMedica Therapeutics during the 1st quarter valued at about $31,000. JPMorgan Chase & Co. purchased a new stake in shares of DiaMedica Therapeutics during the 2nd quarter valued at about $37,000. Dimensional Fund Advisors LP purchased a new stake in shares of DiaMedica Therapeutics during the 2nd quarter valued at about $63,000. Trexquant Investment LP purchased a new position in shares of DiaMedica Therapeutics in the second quarter worth approximately $76,000. Finally, Citadel Advisors LLC purchased a new position in shares of DiaMedica Therapeutics in the first quarter worth approximately $189,000. 18.68% of the stock is currently owned by hedge funds and other institutional investors.

About DiaMedica Therapeutics

DiaMedica Therapeutics, Inc operates as a clinical stage biopharmaceutical company, which engages in the development of novel recombinant proteins. It develops the DM199 product candidate, which focuses on acute ischemic stroke (AIS) and chronic kidney disease (CKD). The company was founded by Wayne Lautt on January 21, 2000 and is headquartered in Minneapolis, MN.

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