Today’s Research Reports on Stocks to Watch: Tandem Diabetes Care and Galectin Therapeutics
NEW YORK, NY / ACCESSWIRE / May 15, 2018 / Tandem shares saw an increase in their share price after an analyst at Piper Jaffray upped his price target to $13 from $8. Shares of Galectin Therapeutics also saw a rise after the company announced its plans to begin a Phase 3 clinical trial program of GR-MD-02, its galectin-3 inhibitor in Nash cirrhosis.
RDI Initiates Coverage on:
Tandem Diabetes Care, Inc.
https://rdinvesting.com/news/?ticker=TNDM
Galectin Therapeutics, Inc.
https://rdinvesting.com/news/?ticker=GALT
Tandem Diabetes Care, Inc. shares closed up 25.22% yesterday but lost some of those gains in after-hours trading. The medical device company that focuses on insulin pumps saw its shares climb after analyst JP McKim, of Piper Jaffray, raised his rating on the stock. McKim raised his rating on Tandem Diabetes Care shares from "neutral" to "overweight" and upped his price target to $13 from $8. According to McKim, his decision to upgrade was because he believes the company will see a "superior closed loop system for several years" which will allow the company continue to grab market share quickly. Kim Blickenstaff, the company's president and CEO, will present a company update at the Bank of America Merrill Lynch 2018 Healthcare Conference today in Nevada.
Access RDI's Tandem Diabetes Care, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TNDM
Galectin Therapeutics, Inc. shares were roaring on Monday to close up a little over 19%. The stock saw significant volume traded at around 3.8 million shares compared to an average of around 462,000. The leading developer of therapeutics that target galectin proteins announced that it is going forward with its plans for a Phase 3 clinical trial program of GR-MD-02, the company's galectin-3 inhibitor, in NASH cirrhosis. The company also said it would be incorporating advice and guidance that it received at an FDA meeting. The company's CEO Dr. Peter G. Traber, remarked, "Planning for a Phase 3 development program represents a significant milestone for Galectin Therapeutics and a pathway forward for the development of GR-MD-02 as a potentially important therapy in patients with NASH cirrhosis." It was also stated, “While the company believes the results of the Phase 2 NASH-CX trial may represent a breakthrough for patients with NASH cirrhosis and believes that the results meet the FDA requirements for Breakthrough Therapy designation, the FDA has not granted breakthrough designation at this time based on the Agency’s current assessment that additional confirmatory data are needed to identify the level of change in HVPG that is reasonably likely to predict clinical outcomes."
Access RDI's Galectin Therapeutics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=GALT
Our Actionable Research on Tandem Diabetes Care, Inc. (NASDAQ: TNDM) and Galectin Therapeutics, Inc. (NASDAQ: GALT) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
