DiaMedica Therapeutics (NASDAQ:DMAC) Issues Quarterly Earnings Results, Meets Expectations

DiaMedica Therapeutics (NASDAQ:DMAC) released its quarterly earnings data on Monday. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17), FiscalAI reports. The company had revenue of ($0.03) million during the quarter, compared to analysts’ expectations of $13.50 million.

DiaMedica Therapeutics Price Performance

Shares of DiaMedica Therapeutics stock opened at $6.42 on Thursday. DiaMedica Therapeutics has a 1-year low of $3.19 and a 1-year high of $10.42. The business’s fifty day moving average price is $7.84 and its two-hundred day moving average price is $7.64. The company has a market capitalization of $334.33 million, a P/E ratio of -9.17 and a beta of 1.09.

Analyst Upgrades and Downgrades

DMAC has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research note on Wednesday, January 21st. Lake Street Capital reaffirmed a “buy” rating on shares of DiaMedica Therapeutics in a research report on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, DiaMedica Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $12.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in shares of DiaMedica Therapeutics in the third quarter worth $27,000. Bank of America Corp DE grew its position in DiaMedica Therapeutics by 3,710.3% in the 2nd quarter. Bank of America Corp DE now owns 8,497 shares of the company’s stock worth $33,000 after purchasing an additional 8,274 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in DiaMedica Therapeutics in the 2nd quarter worth $49,000. Invesco Ltd. bought a new position in shares of DiaMedica Therapeutics during the 2nd quarter worth about $54,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of DiaMedica Therapeutics during the second quarter valued at about $56,000. Institutional investors own 10.12% of the company’s stock.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics, Inc (NASDAQ: DMAC) is a clinical‐stage biopharmaceutical company focused on developing novel therapies for acute and chronic central nervous system conditions. The company’s lead product candidate, DM199, is a recombinant form of human tissue kallikrein-1 designed to promote neuroprotection and tissue repair through modulation of the kallikrein‐kinin system. DiaMedica’s research and development efforts are centered on translating the regenerative potential of DM199 into effective treatments for disorders with high unmet medical need.

DM199 is being evaluated in acute ischemic stroke, where preclinical studies have demonstrated potential benefits in blood flow restoration, inflammation reduction and neuronal survival.