DiaMedica Therapeutics price target raised to $11 from $8 at Craig-Hallum

Craig-Hallum analyst Chase Knickerbocker raised the firm’s price target on DiaMedica Therapeutics (DMAC) to $11 from $8 and keeps a Buy rating on the shares following interim results from Part 1a of its Phase 2 trial evaluating DM199 for preeclampsia. The data showed clinically meaningful reductions in both systolic and diastolic blood pressure, with the highest dose group experiencing acute drops of 35 mmHg and 15 mmHg respectively at 5 minutes. While the sample size remains small, the 24-hour average reductions of 20 mmHg systolic and 10 mmHg diastolic are encouraging and the firm says potentially clinically meaningful. These results support continued development into Part 1b and beyond, Craig-Hallum adds. Importantly, evidence suggests DM199 did not cross the placental barrier.