In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Galmed Pharmaceuticals (GLMD), with a price target of $29.00. The company’s shares closed last Tuesday at $3.50, close to its 52-week low of $2.96.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 12.4% and a 41.4% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Madrigal Pharmaceuticals, and Aurinia Pharmaceuticals.
Galmed Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $19.67, implying a 478.5% upside from current levels. In a report issued on November 12, Raymond James also maintained a Buy rating on the stock with a $20.00 price target.
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The company has a one-year high of $7.38 and a one-year low of $2.96. Currently, Galmed Pharmaceuticals has an average volume of 74.25K.
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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. The Aramchol is a synthetic conjugate of cholic acid, or a type of bile acid, and arachidic acid, or a type of saturated fatty acid, both of which, in their non-synthetic forms, are naturally occurring. The company was founded by Allen Baharaff and Tuvia Gilat in 2000 and is headquartered in Tel Aviv, Israel.