H.C. Wainwright analyst Ed Arce raised his price target for Galmed Pharmaceuticals to $43 after the company announced the results of its 52-week, Phase 2b study of lead drug Aramchol, its novel, first-in-class, fatty acidbile acid conjugate. The stock in midday trading is up 196%, or $13.77, to $20.77. The one-year biopsy results hit on nonalcoholic steatohepatitis resolution without worsening of fibrosis, Arce tells investors in a research note partially titled “The Sleeper NASH Readout of 2018 Has Awoken.” Further, in a “critical differentiating characteristic to many other NASH therapeutic candidates, Aramchol continues to show a favorable safety and tolerability profile,” the analyst adds. He increased his U.S. NASH probability of success estimate for the drug to 55% from 30% and reiterates a Buy rating on Galmed.