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Biotech / Medical : Madrigal Pharmaceuticals

MDGL 474.98

+6.7%

3:59 PM EST

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From: Lynn	7/13/2018 12:11:07 PM
	of 138

[GLMD] Galmed Pharma initiated with a Buy at Stifel; tgt $35 9:06 AM ET, 07/13/2018 - Briefing.com. Stifel initiates GLMD with a Buy and price target of $35 as they think Galmed's lead, wholly-owned asset Aramchol has proven itself in a recent P2b trial (ARREST) as a clearly active and very safe compound for treating NASH, a highly unmet medical need and projected multi-billion dollar market opportunity. Firm's and KOLs view the data positively, particularly the strong trends observed on the two NASH regulatory approvable endpoints (nearly stat sig on one with p=0.0514 despite not being powered for this), as well as clinically meaningful NASH resolution (p=0.0462). They expect full data at AASLD in November. A P3 is planned for 1H19 and firm thinks an Aramchol partnership deal (either geographic, or for combo use) has a decent chance of materializing ahead of that. With a legitimate late-stage NASH drug in Aramchol, and a market cap of less than $300M vs. competitors MDGL at $4.5B and ICPT at $2.4B, GLMD holds excellent upside potential, in their view. [No URL - copy/paste from brokerage account]

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