DelMar Pharmaceuticals’s “Outperform” Rating Reaffirmed at Zacks (DMPI)
DelMar Pharmaceuticals (NASDAQ:DMPI)‘s stock had its “outperform” rating reiterated by Zacks in a report released on Tuesday. They currently have a $4.50 target price on the stock. Zacks‘s target price points to a potential upside of 462.50% from the company’s current price.
Zacks’ analyst wrote, “DMPI is a clinical/commercial stage drug development company with a focus on oncology. We are impressed with the efficacy data and safety profile of its lead drug candidate VAL-083 for brain cancer. DMPI recently reported positive VAL-083 Phase I/II clinical data for brain cancer. The company is on track to initiate registration directed trial of VAL-083 for brain cancer in2H 2014. Valuation is attractive now. We maintain an Outperform rating on its shares. “
Shares of DelMar Pharmaceuticals (NASDAQ:DMPI) traded up 8.75% on Tuesday, hitting $0.87. The stock had a trading volume of 18,549 shares. DelMar Pharmaceuticals has a 1-year low of $0.75 and a 1-year high of $2.39. The stock’s 50-day moving average is $1.11 and its 200-day moving average is $1.08. The company’s market cap is $22.0 million.
Separately, analysts at Maxim Group initiated coverage on shares of DelMar Pharmaceuticals in a research note on Thursday, April 3rd. They set a “buy” rating and a $8.00 price target on the stock.
DelMar Pharmaceuticals, Inc formerly Berry Only Inc, is developing new drug candidates targeting orphan cancer indications.
To view Zacks’ full report, visit Zacks’ official website.
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