Brokerages expect Galmed Pharmaceuticals (NASDAQ:GLMD) to post sales of $300,000.00 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Galmed Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $280,000.00 and the highest estimate coming in at $300,000.00. Galmed Pharmaceuticals posted sales of $270,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The firm is scheduled to announce its next earnings results on Monday, July 30th.
On average, analysts expect that Galmed Pharmaceuticals will report full year sales of $850,000.00 for the current financial year, with estimates ranging from $550,000.00 to $1.17 million. For the next financial year, analysts anticipate that the firm will post sales of $3.00 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for 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%.
GLMD has been the subject of a number of research reports. ValuEngine cut shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Tuesday, May 15th. Maxim Group set a $14.00 price target on shares of Galmed Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, May 9th. Finally, HC Wainwright raised their price target on shares of Galmed Pharmaceuticals from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Six research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $19.10.
Large investors have recently added to or reduced their stakes in the stock. 683 Capital Management LLC increased its position in Galmed Pharmaceuticals by 18.2% during the fourth quarter. 683 Capital Management LLC now owns 649,295 shares of the biopharmaceutical company’s stock worth $5,941,000 after acquiring an additional 100,000 shares during the period. 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. Meitav Dash Investments Ltd. bought a new position in Galmed Pharmaceuticals in the 4th quarter valued at about $4,357,000. Finally, 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. 17.28% of the stock is currently owned by institutional investors and hedge funds.
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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