$300,000.00 in Sales Expected for Galmed Pharmaceuticals (GLMD) This Quarter

Brokerages predict that Galmed Pharmaceuticals (NASDAQ:GLMD) will post $300,000.00 in sales for the current quarter, according to Zacks. Four analysts have made estimates for Galmed Pharmaceuticals’ earnings, with the highest sales estimate coming in at $300,000.00 and the lowest estimate coming in at $280,000.00. Galmed Pharmaceuticals reported sales of $270,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The business is expected to announce its next quarterly earnings results on Monday, July 30th.

According to Zacks, analysts expect that Galmed Pharmaceuticals will report full-year sales of $850,000.00 for the current year, with estimates ranging from $550,000.00 to $1.17 million. For the next fiscal year, analysts expect that the business will post sales of $3.00 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Galmed Pharmaceuticals.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Wednesday, May 16th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.29 million. Galmed Pharmaceuticals had a negative net margin of 1,073.09% and a negative return on equity of 110.46%.

A number of analysts have recently issued reports on GLMD shares. Maxim Group upgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Thursday, March 15th. HC Wainwright raised their target price on shares of Galmed Pharmaceuticals from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, ValuEngine cut shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Six research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $19.10.

Several hedge funds and other institutional investors have recently bought and sold shares of GLMD. Sphera Funds Management LTD. bought a new position in Galmed Pharmaceuticals in the 4th quarter valued at about $2,164,000. Renaissance Technologies LLC bought a new position in Galmed Pharmaceuticals in the 4th quarter valued at about $345,000. Deutsche Bank AG bought a new position in Galmed Pharmaceuticals in the 4th quarter valued at about $246,000. Park West Asset Management LLC increased its holdings in Galmed Pharmaceuticals by 4.4% in the 4th quarter. Park West Asset Management LLC now owns 292,847 shares of the biopharmaceutical company’s stock valued at $2,679,000 after buying an additional 12,347 shares during the period. Finally, 683 Capital Management LLC increased its holdings in Galmed Pharmaceuticals by 18.2% in the 4th quarter. 683 Capital Management LLC now owns 649,295 shares of the biopharmaceutical company’s stock valued at $5,941,000 after buying an additional 100,000 shares during the period. Institutional investors own 17.28% of the company’s stock.

Shares of Galmed Pharmaceuticals traded down $0.18, reaching $7.33, during mid-day trading on Monday, according to MarketBeat.com. 77,800 shares of the company were exchanged, compared to its average volume of 68,492. The stock has a market cap of $115.46 million, a PE ratio of -7.48 and a beta of 2.73. Galmed Pharmaceuticals has a twelve month low of $3.61 and a twelve month high of $12.22.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. The company is develops Aramchol, an oral therapy, which is in ARREST study, a Phase IIb clinical study for the treatment of patients with overweight or obesity, and who are pre-diabetic or type-II-diabetic with non-alcoholic steato-hepatitis.

Get a free copy of the Zacks research report on Galmed Pharmaceuticals (GLMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Galmed Pharmaceuticals (NASDAQ:GLMD)

Receive News & Ratings for Galmed Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galmed Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply