According to the stock price chart, Galmed Pharmaceuticals (GLMD) has a good progression: the value was stable increasing from $2.66 to $3.88 from June 1 to June 7.
GLMD is a clinical-stage biopharmaceutical company specializing in the development of Aramchol, a liver-targeted stearoyl-coenzyme A ‑ desaturase-1 (SCD1) modulator. Aramchol is a new oral therapy for the treatment of non-alcoholic Steatohepatitis (NASH), a type of fatty liver disease and fibrosis.
In February of this year, GLMD raised about $18.4 million in a public offering of its shares through a market equity partnership. As of March 31, 2021, the company had cash and cash equivalents of $58.9 million on its balance sheet, compared to $50.9 million as of December 31, 2020. After the publication of the report, HC Wainwright analyst Ed Ars proved the purchase and the target price for the stock at $25 (growth potential of 812.4%) also; the forecasts of Wall Street analysts are very optimistic and have a “Strong Buy” consensus forecast based on 4 purchases. The medium value target for analysts at $16.50 suggests a growth potential of about 502% to current levels.
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