DiaMedica Therapeutics (NASDAQ:DMAC) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

DiaMedica Therapeutics (NASDAQ:DMAC) posted its earnings results on Monday. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01, FiscalAI reports.

DiaMedica Therapeutics Stock Performance

Shares of DMAC traded down $0.10 during midday trading on Monday, hitting $6.65. 180,586 shares of the stock were exchanged, compared to its average volume of 204,830. DiaMedica Therapeutics has a 52-week low of $4.39 and a 52-week high of $10.42. The stock has a fifty day simple moving average of $6.60 and a 200 day simple moving average of $6.95. The firm has a market cap of $358.30 million, a P/E ratio of -9.37 and a beta of 1.01.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DMAC shares. Wall Street Zen upgraded DiaMedica Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings restated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, DiaMedica Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Institutional Investors Weigh In On DiaMedica Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in DiaMedica Therapeutics during the 3rd quarter worth about $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 valued at $33,000 after acquiring an additional 8,274 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in DiaMedica Therapeutics in the 2nd quarter valued at about $49,000. Invesco Ltd. purchased a new stake in DiaMedica Therapeutics during the second quarter worth about $54,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in DiaMedica Therapeutics during the second quarter worth about $56,000. Hedge funds and other 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.