H.C. Wainwright Thinks Del Mar Pharmaceuticals’ Stock is Going to Recover


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Del Mar Pharmaceuticals (NASDAQ: DMPI) today and set a price target of $12. The company’s shares closed yesterday at $0.98, close to its 52-week low of $0.78.

Selvaraju wrote:

“We reiterate our Buy rating and 12-month target of $12.00 per share on DMPI.”

According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -3.4% and a 38.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Del Mar Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $12.

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Based on Del Mar Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.93 million. In comparison, last year the company had a GAAP net loss of $1.87 million.

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DelMar Pharmaceuticals, Inc. is a clinical and commercial stage drug development company, which focuses on the research and development of drugs for the treatment of cancer. It offers VAL-083; drug discovery research; as well as patents and intellectual property.

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