Maxim Group Thinks Galmed Pharmaceuticals’ Stock is Going to Recover


Maxim Group analyst Jason McCarthy maintained a Buy rating on Galmed Pharmaceuticals (GLMD) today and set a price target of $20. The company’s shares opened today at $8.44, close to its 52-week low of $4.84.

McCarthy commented:

“Galmed reported a 4Q18 and FY2018 net loss of ($3.7M) and ($9.8M), respectively and ended the period with $90.2M in cash.”

According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.3% and a 33.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inovio Pharmaceuticals, and IntelGenx Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Galmed Pharmaceuticals with a $33.75 average price target, representing a 299.9% 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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