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, primarily driven by the promising interim results from the Phase 2 study of DM199 for preeclampsia. The study demonstrated significant reductions in both systolic and diastolic blood pressure, with the highest dosing showing rapid and substantial mean blood pressure reduction shortly after infusion. Additionally, the results indicated no placental transfer, which is crucial for the safety of DM199, along with no early labor inductions or treatment discontinuations, further supporting the drug’s safety profile.
Moreover, the study provided evidence of improved uterine artery blood flow, which is vital for placental perfusion. The positive outcomes from the interim results have de-risked the preeclampsia program and set a strong foundation for further development. These findings not only enhance the potential of DM199 in treating preeclampsia but also suggest a supportive framework for its application in acute ischemic stroke, contributing to the optimistic outlook and the Buy rating for Diamedica Therapeutics.
In another report released yesterday, Craig-Hallum also reiterated a Buy rating on the stock with a $11.00 price target.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DMAC in relation to earlier this year.