Zacks: Brokerages Set $11.16 Price Target for DelMar Pharmaceuticals Inc (DMPI)

Shares of DelMar Pharmaceuticals Inc (NASDAQ:DMPI) have earned an average broker rating score of 1.50 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and three have issued a strong buy rating on the company.

Brokerages have set a 12-month consensus target price of $11.16 for the company and are predicting that the company will post ($0.13) EPS for the current quarter, according to Zacks. Zacks has also assigned DelMar Pharmaceuticals an industry rank of 197 out of 265 based on the ratings given to related companies.

Separately, HC Wainwright set a $12.00 price target on shares of DelMar Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, January 4th.

Shares of DelMar Pharmaceuticals (NASDAQ DMPI) traded up $0.03 during midday trading on Friday, hitting $1.36. 169,800 shares of the company’s stock traded hands, compared to its average volume of 803,113. DelMar Pharmaceuticals has a 12 month low of $0.78 and a 12 month high of $5.20. The stock has a market capitalization of $28.73, a P/E ratio of -1.58 and a beta of 1.22.

A hedge fund recently bought a new stake in DelMar Pharmaceuticals stock. Sabby Management LLC acquired a new stake in shares of DelMar Pharmaceuticals Inc (NASDAQ:DMPI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 645,390 shares of the company’s stock, valued at approximately $1,484,000. Sabby Management LLC owned 4.79% of DelMar Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 17.03% of the company’s stock.

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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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