Zacks: DelMar Pharmaceuticals, Inc. (DMPI) Receives Average Rating of “Buy” from Analysts
Shares of DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) have earned an average broker rating score of 1.50 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company.
Brokerages have set a twelve-month consensus price target of $11.16 for the company and are anticipating that the company will post ($0.15) earnings per share for the current quarter, according to Zacks. Zacks has also given DelMar Pharmaceuticals an industry rank of 111 out of 265 based on the ratings given to related companies.
DMPI has been the subject of several research reports. Maxim Group reaffirmed a “hold” rating on shares of DelMar Pharmaceuticals in a report on Monday, September 11th. HC Wainwright set a $12.00 price objective on DelMar Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 16th.
Shares of DelMar Pharmaceuticals (DMPI) traded up $0.01 during mid-day trading on Wednesday, reaching $0.86. The company had a trading volume of 106,840 shares, compared to its average volume of 1,048,962. DelMar Pharmaceuticals has a 52-week low of $0.78 and a 52-week high of $5.39.
DelMar Pharmaceuticals (NASDAQ:DMPI) last issued its quarterly earnings data on Monday, November 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). analysts predict that DelMar Pharmaceuticals will post -0.54 EPS for the current year.
In related news, CEO Saiid Zarrabian purchased 60,900 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was bought at an average price of $0.82 per share, with a total value of $49,938.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have purchased 108,400 shares of company stock valued at $89,713.
Institutional investors have recently added to or reduced their stakes in the business. Sabby Management LLC purchased a new position in DelMar Pharmaceuticals during the second quarter worth $1,484,000. Franklin Resources Inc. purchased a new position in DelMar Pharmaceuticals during the second quarter worth $2,477,000. Finally, Susquehanna International Group LLP purchased a new position in DelMar Pharmaceuticals during the third quarter worth $306,000. 16.91% of the stock is owned by institutional investors.
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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