DiaMedica Therapeutics (NASDAQ:DMAC) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of DiaMedica Therapeutics (NASDAQ:DMAC) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “DiaMedica Therapeutics Inc. is a biopharmaceutical company. It engages in the development of novel recombinant proteins and monoclonal antibodies. The companys lead product principally consists DM199, a recombinant human tissue kallikrein-1 protein. It operates primarily in the United States and Canada. DiaMedica Therapeutics Inc. is headquartered in Minneapolis, Minnesota. “

Separately, Roth Capital dropped their target price on DiaMedica Therapeutics from $32.00 to $24.00 and set a buy rating for the company in a report on Monday, September 27th.

Shares of DMAC stock opened at $3.38 on Wednesday. DiaMedica Therapeutics has a 1-year low of $3.00 and a 1-year high of $10.88. The business has a 50-day moving average of $3.76 and a 200 day moving average of $3.87.

DiaMedica Therapeutics (NASDAQ:DMAC) last issued its earnings results on Wednesday, November 10th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. During the same period in the previous year, the firm earned ($0.19) EPS. As a group, equities research analysts expect that DiaMedica Therapeutics will post -0.73 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DMAC. Bank of Montreal Can lifted its holdings in DiaMedica Therapeutics by 36.7% in the 2nd quarter. Bank of Montreal Can now owns 142,846 shares of the company’s stock worth $694,000 after buying an additional 38,322 shares during the period. JPMorgan Chase & Co. purchased a new stake in DiaMedica Therapeutics in the 2nd quarter worth approximately $37,000. Dimensional Fund Advisors LP purchased a new stake in DiaMedica Therapeutics in the 2nd quarter worth approximately $63,000. Trexquant Investment LP purchased a new stake in DiaMedica Therapeutics in the 2nd quarter worth approximately $76,000. Finally, Geode Capital Management LLC lifted its holdings in DiaMedica Therapeutics by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 133,569 shares of the company’s stock worth $594,000 after buying an additional 5,101 shares during the period. Institutional investors and hedge funds own 49.45% of the company’s stock.

DiaMedica Therapeutics Company Profile

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.

Featured Article: Why Net Income is Important to Investors

Get a free copy of the Zacks research report on DiaMedica Therapeutics (DMAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for DiaMedica Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiaMedica Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.