Raymond James has decided to maintain its Outperform rating of Galmed Pharmaceuticals (NASDAQ:GLMD) and lower its price target from $14.00 to $5.00.
Shares of Galmed Pharmaceuticals are trading down 22.69% over the last 24 hours, at $0.94 per share.
A move to $5.00 would account for a 430.11% increase from the current share price.
About Galmed Pharmaceuticals
Galmed Pharmaceuticals Ltd is a biopharmaceutical company. It focuses on the development and commercialization of once-daily, oral therapy for the treatment of liver diseases and cholesterol gallstones utilizing its synthetic fatty-acid/bile-acid conjugate (FABAC), called aramchol. Its product, aramchol, is a disease-modifying treatment for fatty liver disorders, including Non-Alcoholic Steato-hepatitis. Aramchol affects liver fat metabolism and has been shown in a Phase IIa clinical study to reduce liver fat content, as well as improve metabolic parameters associated with Nonalcoholic steatohepatitis.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
