Cantor Fitzgerald Thinks Galmed Pharmaceuticals’ Stock is Going to Recover


In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Galmed Pharmaceuticals (GLMD), with a price target of $59. The company’s shares closed yesterday at $8.16, close to its 52-week low of $4.84.

Piros said:

“: We reiterate our OW rating and $59 12-month PT on Galmed Pharmaceuticals following earnings from 4Q18/2018. The company announced plans to have an end-of-Phase 2b meeting with the FDA during March, with the goal of initiating the Phase 3 ARMOR study in late-2Q19/early-3Q19. Minutes from this meeting and finalized Phase 3 trial design plans could be important data points in 2019. Additionally, Galmed will present a poster on Aramchol improvement in liver glucose homeostasis in NASH at EASL on 4/13 (link).”

According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.0% and a 43.4% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.

Currently, the analyst consensus on Galmed Pharmaceuticals is a Strong Buy with an average price target of $38.33, representing a 369.7% upside. In a report released yesterday, B.Riley FBR also reiterated a Buy rating on the stock with a $28 price target.

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Based on Galmed Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $959K. In comparison, last year the company had a GAAP net loss of $3.64 million.

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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.

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