H.C. Wainwright Keeps a Buy Rating on Del Mar Pharmaceuticals

By Jason Carr

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Del Mar Pharmaceuticals (NASDAQ: DMPI), with a price target of $12. The company’s shares closed last Friday at $2.20, close to its 52-week low of $1.40.

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -7.5% and a 34.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as RegeneRx Biopharmaceuticals Inc, Biospecifics Technologies Corp, and Stemline Therapeutics Inc.

Currently, the analyst consensus on Del Mar Pharmaceuticals is Moderate Buy and the average price target is $11.50, representing a 422.7% upside.

In a report issued on May 25, Maxim Group also reiterated a Buy rating on the stock with a $11 price target.

The company has a one year high of $10.87 and a one year low of $1.40. Currently, Del Mar Pharmaceuticals has an average volume of 49.14K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The company was founded by Jeffrey A. Bacha, Dennis M. Brown, and William J. Garner on June 24, 2009 and is headquartered in Vancouver, Canada.