Maxim Group analyst Jason McCarthy assigned a Buy rating to Galmed Pharmaceuticals (GLMD) yesterday and set a price target of $10.00. The company’s shares closed last Friday at $3.40, close to its 52-week low of $2.96.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 31.4% and a 50.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and Interpace Diagnostics Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Galmed Pharmaceuticals with a $19.67 average price target, which is a 524.4% upside from current levels. In a report issued on November 10, H.C. Wainwright also maintained a Buy rating on the stock with a $29.00 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 72.61K.
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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.
