B.Riley FBR Thinks Galmed Pharmaceuticals’ Stock is Going to Recover

B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Galmed Pharmaceuticals (GLMD) today. The company’s shares closed on Friday at $7.56, close to its 52-week low of $4.84.

Mamtani wrote:

“4Q18 earnings release and conference call from Galmed Pharmaceuticals Ltd. (GLMD), on 3/13 before market open, we highlight the three focus areas of aramchol’s clinical development in non-alcoholic steatohepatitis (NASH) that we expect to be viewed positively by investors: (1) preparation for the imminent end-of-Phase II meeting with the FDA to finalize the Phase III ARMOR trial design, in terms of dosing and choice of primary endpoint; (2) indication of expansion into pediatric NASH; as well as (3) corporate development efforts for continued shareholder-friendly, late-stage development as part of combination-based regimens. We highlight GLMD’s enterprise value (EV) of ~$72M as significantly discounted, relative to its peer group (Exhibit 2).”

According to TipRanks.com, Mamtani is a 2-star analyst with an average return of 1.9% and a 36.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

Currently, the analyst consensus on Galmed Pharmaceuticals is a Strong Buy with an average price target of $43.50.

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The company has a one-year high of $27.06 and a one-year low of $4.84. Currently, Galmed Pharmaceuticals has an average volume of 120.3K.

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Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It focuses on the development of the liver targeted stearoyl-coenzyme A desaturase-1 modulator Aramchol, novel, once-daily, oral therapy for the treatment of NASH for variable populations, as well as other liver associated disorders.