HC Wainwright set a $12.00 price objective on DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) in a research note published on Monday. The brokerage currently has a buy rating on the stock.

“Ovarian Cancer Role for VAL-083; Reiterate Buy Stock Data 10/13/2017 Price $0.88 Exchange NASDAQ Price Target $12.00 52-Week High $5.77 52-Week Low $0.80 Enterprise Value (M) $12.4 Market Cap (M) $19 Public Market Float (M) 19.3 Shares Outstanding (M) 21.6 3 Month Avg Volume 959,521 Short Interest (M) 0.35 Balance Sheet Metrics Cash (M) $6.59 Total Debt (M) $0.00 Total Cash/Share $0.31 Book Value/Share $(0.09) EPS Diluted Full Year – Jun 2016A 2017A 2018E 1Q (0.15) (0.23) (0.17) 2Q (0.24) (0.13) (0.16) 3Q (0.10) (0.18) (0.14) 4Q (0.31) (0.20) (0.12) FY (0.81) (0.74) (0.57) 6 5 4 3 2 1 0 OCT- 16 FEB- 17 J UN- 17 OCT- 17 40 30 20 10 0 Vol. (mil) Price Continuing coverage under the name H.C. Wainwright & Co. with a Buy rating. Effective October 5, 2017, research in the above titled name will now be published under H.C. Wainwright & Co. and no longer distributed in conjunction with ‘Rodman & Renshaw, a unit of H.C.”,” HC Wainwright’s analyst commented.

Several other brokerages have also issued reports on DMPI. Maxim Group reissued a buy rating and set a $11.00 target price on shares of DelMar Pharmaceuticals in a research note on Friday, June 23rd. Dawson James reissued a buy rating on shares of DelMar Pharmaceuticals in a research note on Tuesday, August 8th.

Shares of DelMar Pharmaceuticals (NASDAQ:DMPI) opened at 0.90 on Monday. DelMar Pharmaceuticals has a 52-week low of $0.80 and a 52-week high of $5.77. The company’s market capitalization is $19.40 million. The company has a 50-day moving average of $1.06 and a 200 day moving average of $2.01.

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A hedge fund recently bought a new stake in DelMar Pharmaceuticals stock. Sabby Management LLC acquired a new stake in DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 645,390 shares of the company’s stock, valued at approximately $1,484,000. Sabby Management LLC owned approximately 4.79% of DelMar Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 8.64% of the company’s stock.

About DelMar Pharmaceuticals

DelMar Pharmaceuticals, Inc is a clinical-stage drug development company. The Company focuses on the treatment of cancer. The Company is engaged in conducting clinical trials in the United States with its product candidate, VAL-083, as a treatment for glioblastoma multiforme (GBM), a form of brain cancer.

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