3 Biotech Stocks Wall Street Analysts Predict Will More Than Double

Industry Overview - The biotech industry is projected to reach a size of $3.9 trillion by 2030 and about $8 trillion by 2035 [2] Company Analysis: DiaMedica Therapeutics (DMAC) - DiaMedica Therapeutics is a clinical-stage biopharmaceutical company founded in 2000, developing DM199 for ischemic disorders such as acute ischemic stroke and preeclampsia [4] - DM199 is intended to restore vascular function and reduce ischemia, characterized as a potentially disease-modifying approach to improve blood flow and reduce injury [4] - The market cap of DMAC is valued at $380 million, with the stock up 35% year-to-date [5] - The company is still at the pre-revenue stage, with losses widening to $0.17 per share from $0.15 per share year-over-year, slightly higher than the consensus estimate of a loss of $0.16 per share [6] - Net cash used in operating activities for the nine months ended September 30 widened to $21.3 million from $15.6 million in the previous year, with a cash balance of $3.3 million, significantly higher than short-term debt levels of $109,000 [7] - Cantor Fitzgerald initiated coverage on DMAC with an "Overweight" rating, setting a price target of $25, indicating an upside potential of about 242.5% from current levels [8]