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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.
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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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.