Galmed Pharmaceuticals (GLMD) Gets a Buy Rating from Cantor Fitzgerald


Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Galmed Pharmaceuticals (GLMD) today and set a price target of $59. The company’s shares closed on Friday at $10.80.

Piros wrote:

“We rate Galmed Pharmaceuticals Overweight. The company recently completed a Phase 2b study in NASH that achieved NASH resolution without worsening of fibrosis. Valuation Summary The sum of the risk-adjusted NPV yields an after-tax (21%), discounted (15%) value of over $1.2 billion (~$54/share), in our estimation. By adding an estimated $91 million (~$4/share) of YE cash, the total value is ~$1.3 billion in our calculation, or $59/share, our 12-month PT.”

According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -7.4% and a 38.8% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Galmed Pharmaceuticals with a $47.50 average price target.

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The company has a one-year high of $27.06 and a one-year low of $3.61. Currently, Galmed Pharmaceuticals has an average volume of 156.5K.

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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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