DiaMedica Therapeutics (NASDAQ:DMAC) Sets New 1-Year High – Time to Buy?

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC) shares reached a new 52-week high on Wednesday . The stock traded as high as $10.20 and last traded at $10.00, with a volume of 355699 shares traded. The stock had previously closed at $9.07.

Analyst Ratings Changes

Several analysts have recently issued reports on DMAC shares. Cowen initiated coverage on shares of DiaMedica Therapeutics in a research report on Thursday, October 30th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research note on Wednesday, October 8th. TD Cowen started coverage on DiaMedica Therapeutics in a research report on Thursday, October 30th. They set a “buy” rating on the stock. Cantor Fitzgerald started coverage on DiaMedica Therapeutics in a report on Friday, November 14th. They issued an “overweight” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of DiaMedica Therapeutics in a research note on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.33.

DiaMedica Therapeutics Stock Performance

The firm has a market capitalization of $521.69 million, a PE ratio of -14.29 and a beta of 1.31. The company’s 50 day simple moving average is $7.20 and its 200-day simple moving average is $5.76.

DiaMedica Therapeutics (NASDAQ:DMAC) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). On average, equities research analysts forecast that DiaMedica Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DiaMedica Therapeutics news, major shareholder Jan Stahlberg bought 240,352 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average cost of $7.21 per share, for a total transaction of $1,732,937.92. Following the purchase, the insider directly owned 8,375,092 shares of the company’s stock, valued at $60,384,413.32. The trade was a 2.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 1,061,277 shares of company stock worth $7,632,627 in the last three months. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DMAC. Cantor Fitzgerald L. P. bought a new position in shares of DiaMedica Therapeutics in the third quarter worth approximately $687,000. Private Capital Management LLC purchased a new position in DiaMedica Therapeutics in the 3rd quarter worth approximately $344,000. Qube Research & Technologies Ltd bought a new position in shares of DiaMedica Therapeutics in the 3rd quarter worth $272,000. Millennium Management LLC bought a new position in shares of DiaMedica Therapeutics in the 3rd quarter worth $8,157,000. Finally, Citadel Advisors LLC purchased a new stake in shares of DiaMedica Therapeutics during the 3rd quarter valued at $476,000. Hedge funds and other institutional investors own 10.12% of the company’s stock.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics Inc, a clinical stage biopharmaceutical company, focuses on improving the lives of people suffering from serious diseases with a focus on acute ischemic stroke. Its lead candidate is DM199, a pharmaceutically active recombinant form of the human tissue kallikrein-1 protein, which is in Phase II/III trials for the treatment of acute ischemic stroke, as well as that is in Phase 2 to treat cardio-renal disease.