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.
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