GRTX - Galera raised to Buy at HC Wainwright BTIG after avasopasem trial met primary endpoint

Galera Therapeutics (NASDAQ:GRTX) continues yesterday's rally, up 17.8% premarket after the company reported positive avasopasem data in late-stage study. GRTX said that corrected results from its Phase 3 ROMAN trial of avasopasem achieved statistical significance on the primary endpoint. The company previously said the trial failed to meet the primary endpoint which was an error by the contract research organization, identified upon further analysis. Following this news, HC Wainwright raised the recommendation on Galera to Buy from Neutral and set the price target (PT) to $10. Also, BTIG analyst Robert Hazlett upgraded the stock to Buy from Neutral; PT set to $15. The PT of $10 and $15 implies a 270% and 456% increase from last close of $2.70, respectively. BofA also upgraded Galera to Neutral from Underperform. Wall Street Analysts are Bullish on GRTX with average PT of $10. Galera is discovering and developing novel mechanism-based therapies that have the potential

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Galera raised to Buy at HC Wainwright, BTIG after avasopasem trial met primary endpoint