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

Zacks Investment Research downgraded shares of DelMar Pharmaceuticals (NASDAQ:DMPI) from a hold rating to a sell rating in a report released on Thursday, Zacks.com reports.

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

A number of other brokerages have also commented on DMPI. Maxim Group initiated coverage on DelMar Pharmaceuticals in a research report on Friday, September 6th. They issued a buy rating for the company. ValuEngine lowered DelMar Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Finally, Dawson James reaffirmed a buy rating on shares of DelMar Pharmaceuticals in a research report on Thursday, July 11th.

DelMar Pharmaceuticals stock traded up $0.02 during midday trading on Thursday, reaching $0.42. The stock had a trading volume of 283,058 shares, compared to its average volume of 356,616. DelMar Pharmaceuticals has a 12 month low of $0.40 and a 12 month high of $7.00. The company has a market capitalization of $1.12 million, a P/E ratio of -0.13 and a beta of 1.25. The company has a fifty day moving average price of $0.60 and a two-hundred day moving average price of $1.16.

DelMar Pharmaceuticals (NASDAQ:DMPI) last issued its earnings results on Tuesday, September 10th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.59). On average, equities analysts expect 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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