DiaMedica Therapeutics (NASDAQ:DMAC) Issues Quarterly Earnings Results

DiaMedica Therapeutics (NASDAQ:DMAC) released its quarterly earnings data on Tuesday. The company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.07, Morningstar.com reports.

Shares of DiaMedica Therapeutics stock traded down $0.84 on Wednesday, reaching $2.62. The stock had a trading volume of 11,439 shares, compared to its average volume of 71,483. DiaMedica Therapeutics has a 1 year low of $2.46 and a 1 year high of $5.93. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $4.00.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of DiaMedica Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. ValuEngine raised shares of DiaMedica Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Dougherty & Co assumed coverage on shares of DiaMedica Therapeutics in a report on Tuesday, April 30th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Craig Hallum increased their price target on shares of DiaMedica Therapeutics from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $8.38.

In other news, Director Richard D. Pilnik purchased 19,000 shares of the stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $2.80 per share, with a total value of $53,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in DMAC. Granite Point Capital Management L.P. purchased a new stake in shares of DiaMedica Therapeutics in the second quarter worth about $1,141,000. Eidelman Virant Capital purchased a new stake in shares of DiaMedica Therapeutics in the second quarter worth about $173,000. Vanguard Group Inc. purchased a new stake in shares of DiaMedica Therapeutics in the second quarter worth about $170,000. Finally, BlackRock Inc. lifted its holdings in shares of DiaMedica Therapeutics by 159.7% in the second quarter. BlackRock Inc. now owns 27,075 shares of the company’s stock worth $134,000 after buying an additional 16,651 shares in the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the development of treatments for neurological and kidney diseases. The company's lead product is DM199, a recombinant human tissue kallikrein-1 protein, which is in Phase II clinical trials for the treatment of acute ischemic stroke and kidney injury indications.

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