Galmed Pharmaceuticals Ltd. (GLMD) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $8.00 price target on the biopharmaceutical company’s stock.
According to Zacks, “Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It is focused on developing therapies for liver diseases and gallstones. Galmed Pharmaceuticals Ltd. is based in Tel Aviv, Israel. “
GLMD has been the subject of several other research reports. Maxim Group set a $9.00 target price on Galmed Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, April 5th. ValuEngine raised Galmed Pharmaceuticals from a sell rating to a hold rating in a research note on Saturday, June 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Galmed Pharmaceuticals has an average rating of Buy and a consensus price target of $13.50.
Shares of Galmed Pharmaceuticals (NASDAQ:GLMD) traded down 0.97% during midday trading on Wednesday, hitting $7.11. 39,743 shares of the company’s stock traded hands. The company has a 50 day moving average of $6.63 and a 200 day moving average of $5.22. Galmed Pharmaceuticals has a 52 week low of $2.78 and a 52 week high of $8.60. The stock’s market cap is $86.88 million.
Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.11. Galmed Pharmaceuticals had a negative return on equity of 141.13% and a negative net margin of 1,443.98%. The company had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.29 million. On average, equities analysts forecast that Galmed Pharmaceuticals will post ($0.91) EPS for the current fiscal year.
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An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. KCG Holdings Inc. bought a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned approximately 0.17% of Galmed Pharmaceuticals as of its most recent SEC filing. 8.02% of the stock is currently owned by institutional investors.
Galmed Pharmaceuticals Company Profile
Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of once-daily, oral therapy for the treatment of liver diseases and cholesterol gallstones utilizing its synthetic fatty-acid/bile-acid conjugate (FABAC), called aramchol.
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