Why DiaMedica's Stock Is Trading Higher Today

DiaMedica Therapeutics (NASDAQ:DMAC) shares are trading higher on Wednesday after Maxim Group initiated coverage on the stock with a Buy rating and announced a price target of $14 per share.

DiaMedica Therapeutics is a clinical-stage biopharmaceutical company. It is principally engaged in the business activity of developing treatments for unmet clinical need or where no therapies are available with a primary focus on chronic kidney disease and acute ischemicstroke. Its pipeline product DM199 is a recombinant form of human tissue kallikrein-1.

DiaMedica Therapeutics shares traded up 3.19% at $6.96 at time of publication on Wednesday. The stock has a 52-week high of $8.80 and a 52-week low of $1.70.