Zacks Investment Research Lowers DelMar Pharmaceuticals (NASDAQ:DMPI) to Sell

Zacks Investment Research cut shares of DelMar Pharmaceuticals (NASDAQ:DMPI) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, reports.

According to Zacks, “DelMar Pharmaceuticals, Inc. is involved in developing drug for orphan cancer indications. DelMar Pharmaceuticals, Inc. is headquartered in Vancouver, Canada. “

DMPI has been the subject of several other reports. Dawson James restated a buy rating on shares of DelMar Pharmaceuticals in a research note on Thursday, July 11th. Maxim Group initiated coverage on DelMar Pharmaceuticals in a research note on Friday, September 6th. They set a buy rating for the company. Finally, ValuEngine cut DelMar Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 2nd.

NASDAQ DMPI traded up $0.07 on Wednesday, hitting $0.51. 64,871 shares of the company’s stock were exchanged, compared to its average volume of 186,033. The stock has a 50-day moving average of $0.57 and a 200-day moving average of $1.16. DelMar Pharmaceuticals has a 52 week low of $0.40 and a 52 week high of $7.00. The stock has a market cap of $1.32 million, a price-to-earnings ratio of -0.16 and a beta of 1.25.

DelMar Pharmaceuticals (NASDAQ:DMPI) last released its earnings results on Tuesday, September 10th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.59). On average, equities research analysts anticipate that DelMar Pharmaceuticals will post -1.2 EPS for the current year.

About DelMar Pharmaceuticals

DelMar Pharmaceuticals, Inc, a clinical stage drug development company, focuses on developing and commercializing anti-cancer therapies to treat cancer patients who have failed to respond to modern therapy. Its product candidate includes VAL-083, a DNA-targeting agent, which is in Phase II clinical study for the treatment of glioblastoma multiforme (GBM), as well as other solid tumors, including ovarian cancer.

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