DelMar Pharmaceuticals, Inc. (DMPI) Receives Consensus Recommendation of “Buy” from Analysts
Shares of DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) have been assigned an average broker rating score of 1.50 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and three have assigned a strong buy rating to the company.
Brokerages have set a 12 month consensus price objective of $11.16 for the company and are expecting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also given DelMar Pharmaceuticals an industry rank of 102 out of 265 based on the ratings given to related companies.
DMPI has been the subject of several research reports. HC Wainwright set a $12.00 target price on DelMar Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, October 16th. Maxim Group reiterated a “hold” rating on shares of DelMar Pharmaceuticals in a research report on Monday, September 11th. Finally, Dawson James reiterated a “buy” rating on shares of DelMar Pharmaceuticals in a research report on Tuesday, August 8th.
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In related news, CEO Saiid Zarrabian acquired 60,900 shares of the stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $0.82 per share, for a total transaction of $49,938.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 108,400 shares of company stock valued at $89,713 over the last 90 days.
Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. bought a new stake in DelMar Pharmaceuticals in the second quarter worth approximately $2,477,000. Sabby Management LLC bought a new stake in DelMar Pharmaceuticals in the second quarter worth approximately $1,484,000. Finally, Susquehanna International Group LLP bought a new stake in DelMar Pharmaceuticals in the third quarter worth approximately $306,000. Institutional investors own 8.26% of the company’s stock.
DelMar Pharmaceuticals (DMPI) traded down $0.04 during trading on Tuesday, reaching $0.94. The company’s stock had a trading volume of 831,601 shares, compared to its average volume of 430,022. DelMar Pharmaceuticals has a 1 year low of $0.78 and a 1 year high of $5.39.
DelMar Pharmaceuticals (NASDAQ:DMPI) last posted its earnings results on Monday, November 13th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). equities research analysts anticipate that DelMar Pharmaceuticals will post -0.61 EPS for the current fiscal year.
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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