After Raymond James and Maxim Group gave Galmed Pharmaceuticals (NASDAQ: GLMD) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ed Arce maintained a Buy rating on Galmed Pharmaceuticals today and set a price target of $36. The company’s shares closed yesterday at $11.28.
Arce noted:
“916-3963, POS Risk-adj value Full value Aramchol – NASH (U.S.) 55.0% $26.00 $47.24 Shares outstanding 20,913 Aramchol – NASH (EU) 40.0% $6.59 $16.46 Current share price $11.28 Discount rate 14.0% Cash beyond 12 months $3.19 $3.19.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 18.4% and a 39.7% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Avenue Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Galmed Pharmaceuticals with a $36.60 average price target, representing a 224.5% upside. In a report issued on August 2, Maxim Group also maintained a Buy rating on the stock with a $27 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 822.9K.
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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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