Shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $39.00.
GLMD has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of Galmed Pharmaceuticals in a research report on Wednesday, July 11th. They set a “buy” rating and a $59.00 target price on the stock. Maxim Group reduced their target price on shares of Galmed Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Zacks Investment Research cut shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Stifel Nicolaus assumed coverage on shares of Galmed Pharmaceuticals in a research report on Friday, July 13th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Raymond James assumed coverage on shares of Galmed Pharmaceuticals in a report on Friday, July 20th. They issued an “outperform” rating and a $26.00 price target on the stock.
Shares of NASDAQ GLMD traded up $0.27 during trading on Friday, reaching $11.64. 136,048 shares of the stock were exchanged, compared to its average volume of 328,220. Galmed Pharmaceuticals has a twelve month low of $3.61 and a twelve month high of $27.06. The stock has a market cap of $216.03 million, a P/E ratio of -11.88 and a beta of 2.64.
Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Galmed Pharmaceuticals had a negative return on equity of 36.66% and a negative net margin of 1,072.44%. The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.27 million. On average, equities analysts forecast that Galmed Pharmaceuticals will post -0.59 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of GLMD. UBS Group AG raised its holdings in Galmed Pharmaceuticals by 5,334.8% in the first quarter. UBS Group AG now owns 40,000 shares of the biopharmaceutical company’s stock valued at $223,000 after acquiring an additional 39,264 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Galmed Pharmaceuticals in the first quarter valued at $107,000. Park West Asset Management LLC raised its holdings in Galmed Pharmaceuticals by 24.2% in the first quarter. Park West Asset Management LLC now owns 363,700 shares of the biopharmaceutical company’s stock valued at $2,026,000 after acquiring an additional 70,853 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Galmed Pharmaceuticals in the second quarter valued at $333,000. Finally, Unterberg Capital LLC acquired a new stake in Galmed Pharmaceuticals in the second quarter valued at $595,000. 55.77% of the stock is currently owned by hedge funds and other institutional investors.
Galmed Pharmaceuticals Company Profile
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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