DiaMedica Therapeutics (NASDAQ:DMAC) Reaches New 52-Week High – Still a Buy?

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC) reached a new 52-week high on Wednesday. The stock traded as high as $10.66 and last traded at $10.7450, with a volume of 30,542 shares trading hands. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DMAC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research note on Thursday, October 15th. Wall Street Zen raised shares of DiaMedica Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of DiaMedica Therapeutics in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

DiaMedica Therapeutics Price Performance

The company has a market cap of $487.53 million, a PE ratio of -12.56 and a beta of 0.95. The company has a 50-day moving average of $7.86 and a 200 day moving average of $7.16.

DiaMedica Therapeutics (NASDAQ:DMAC) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. Equities research analysts expect that DiaMedica Therapeutics, Inc. will post -0.84 EPS for the current year.

Institutional Trading of DiaMedica Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC bought a new stake in shares of DiaMedica Therapeutics in the 2nd quarter worth about $1,023,000. AWM Investment Company Inc. bought a new position in DiaMedica Therapeutics during the 2nd quarter valued at about $253,000. Bank of New York Mellon Corp bought a new position in DiaMedica Therapeutics during the 2nd quarter valued at about $829,000. Bank of America Corp DE grew its holdings in DiaMedica Therapeutics by 62.5% during the 1st quarter. Bank of America Corp DE now owns 42,768 shares of the company’s stock valued at $290,000 after purchasing an additional 16,446 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in DiaMedica Therapeutics during the 1st quarter valued at about $356,000. Hedge funds and other institutional investors own 10.12% of the company’s stock.

About DiaMedica Therapeutics

DiaMedica Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases affecting the kidneys and nervous system. The company’s research is centered on therapies intended to address conditions with limited treatment options.

DiaMedica’s lead investigational product is DM199, a recombinant form of human tissue kallikrein-1, an enzyme involved in blood flow regulation and vascular function. The company has evaluated DM199 in clinical development programs targeting acute ischemic stroke and kidney-related diseases, including chronic kidney disease.