DiaMedica Therapeutics Inc. (DMAC) PT Lowered to $17 at Oppenheimer

Oppenheimer analyst Francois Brisebois lowered the price target on DiaMedica Therapeutics Inc. (NASDAQ: DMAC) to $17.00 (from $21.00) while maintaining an Outperform rating.

The analyst commented, "DiaMedica recently reported 3Q21 results, beating expectations as EPS of ($0.18) outperformed our anticipated ($0.24) and Street consensus' ($0.23). DMAC reported FDA acceptance of its protocol amendment to include the prevention of stroke recurrence as a second primary endpoint in the ReMEDy2 trial for acute ischemic stroke (AIS), which is encouraging given DMAC's prior ReMEDY data and supporting novel MOA. Management noted that the trial is powered to hit either or both primary endpoints (statistical alpha sharing: still a work in progress). As the lingering pandemic keeps presenting challenges leading to delays in the ReMEDY 2 interim look (now expected in 1H23) and IgAN not being a priority, we have assumed delayed commercial launches and decreased our price target from $21 to $17."

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