Galmed Pharmaceuticals Ltd. (GLMD) Lifted to “Buy” 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 report sent to investors on Tuesday. They currently have $8.50 target price 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. “
A number of other analysts also recently issued reports on the company. HC Wainwright reaffirmed a buy rating and set a $18.00 price target on shares of Galmed Pharmaceuticals in a report on Friday, October 27th. Seaport Global Securities reaffirmed a buy rating and set a $19.00 price target on shares of Galmed Pharmaceuticals in a report on Friday, October 6th. Finally, Maxim Group set a $14.00 price target on Galmed Pharmaceuticals and gave the stock a buy rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $18.30.
Galmed Pharmaceuticals (NASDAQ GLMD) traded up $0.16 on Tuesday, reaching $7.81. The company had a trading volume of 45,560 shares, compared to its average volume of 35,428. Galmed Pharmaceuticals has a 1 year low of $3.04 and a 1 year high of $9.59.
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An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. KCG Holdings Inc. purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned about 0.17% of Galmed Pharmaceuticals at the end of the most recent reporting period. 8.25% of the stock is currently owned by hedge funds and other 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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