Galmed Pharmaceuticals (NASDAQ:GLMD) Receives Buy Rating from Maxim Group

Maxim Group restated their buy rating on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report issued on Thursday, AnalystRatings.com reports. The firm currently has a $10.00 price target on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on GLMD. Zacks Investment Research cut shares of Galmed Pharmaceuticals from a buy rating to a hold rating and set a $4.25 price objective for the company. in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an overweight rating on shares of Galmed Pharmaceuticals in a research report on Friday, October 18th. HC Wainwright reiterated a buy rating on shares of Galmed Pharmaceuticals in a research report on Tuesday, August 6th. Laidlaw started coverage on shares of Galmed Pharmaceuticals in a research report on Monday, July 22nd. They set a buy rating and a $25.00 price target for the company. Finally, ValuEngine upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Galmed Pharmaceuticals has a consensus rating of Buy and a consensus target price of $25.71.

Shares of GLMD traded down $0.16 during mid-day trading on Thursday, hitting $4.21. 56,400 shares of the company’s stock were exchanged, compared to its average volume of 88,563. The company has a quick ratio of 25.69, a current ratio of 25.69 and a debt-to-equity ratio of 0.01. The stock has a market cap of $99.83 million, a price-to-earnings ratio of -7.80 and a beta of 2.86. Galmed Pharmaceuticals has a twelve month low of $3.42 and a twelve month high of $10.66. The firm has a fifty day moving average of $4.27 and a two-hundred day moving average of $5.73.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.11. On average, equities analysts predict that Galmed Pharmaceuticals will post -1.08 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Ibex Investors LLC grew its position in shares of Galmed Pharmaceuticals by 18.3% during the 3rd quarter. Ibex Investors LLC now owns 955,105 shares of the biopharmaceutical company’s stock worth $4,565,000 after buying an additional 147,705 shares during the period. Morgan Stanley grew its position in shares of Galmed Pharmaceuticals by 132.1% during the 2nd quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 8,414 shares during the period. Rock Creek Group LP acquired a new stake in shares of Galmed Pharmaceuticals during the 2nd quarter worth approximately $420,000. ETF Managers Group LLC grew its position in shares of Galmed Pharmaceuticals by 34.7% during the 2nd quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock worth $282,000 after buying an additional 11,649 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Galmed Pharmaceuticals by 796.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,207 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 4,626 shares during the period. 36.81% of the stock is currently owned by institutional investors and hedge funds.

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 completed ARREST 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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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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