H.C. Wainwright analyst Matthew Caufield reiterated a Buy rating on Diamedica Therapeutics today and set a price target of $12.00.
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Matthew Caufield has given his Buy rating due to a combination of factors related to Diamedica Therapeutics’ advancements with their lead product, DM199. The company has made significant progress in its clinical trials for DM199, particularly in treating pregnancy complications like preeclampsia and acute ischemic stroke. The completion of the Part 1a dose escalation in the Phase 2 preeclampsia trial and the initiation of a pre-IND meeting with the FDA for further trials in the US are promising developments.
Furthermore, the positive interim results from the preeclampsia study, including significant blood pressure reductions and no adverse effects such as placental transfer or early labor inductions, support the safety and efficacy of DM199. The continued progress in these trials, along with the company’s strategic discussions with the FDA, underpin Caufield’s confidence in the potential of DM199, thus reinforcing the Buy rating and a price target of $12.
In another report released on November 14, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $25.00 price target.