DiaMedica Therapeutics price target lowered to $6 from $7 at Oppenheimer

Oppenheimer lowered the firm’s price target on DiaMedica Therapeutics to $6 from $7 and keeps an Outperform rating on the shares. The firm notes DiaMedica reported Q4 EPS of (12c) beating both its estimate and Street’s consensus of (14c). The company’s commitment to advancing the Phase 2/3 ReMEDy2 trial in AIS, with plans to activate the majority of U.S. sites by Q3 2024 and enhance patient enrollment, is encouraging, Oppenheimer adds. While the trial amendments may be derisking, the firm maintains a cautiously optimistic stance due to historical challenges in stroke trial patient enrollment.