Zacks Investment Research upgraded shares of Galmed Pharmaceuticals (NASDAQ:GLMD) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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 a number of other reports. Imperial Capital began coverage on shares of Galmed Pharmaceuticals in a report on Thursday, July 12th. They issued an outperform rating and a $59.00 target price for the company. Raymond James began coverage on shares of Galmed Pharmaceuticals in a report on Friday, July 20th. They issued an outperform rating and a $26.00 target price for the company. Cantor Fitzgerald set a $59.00 target price on shares of Galmed Pharmaceuticals and gave the company a buy rating in a report on Tuesday, October 2nd. Stifel Nicolaus began coverage on shares of Galmed Pharmaceuticals in a report on Friday, July 13th. They issued a buy rating and a $35.00 target price for the company. Finally, Maxim Group reduced their target price on shares of Galmed Pharmaceuticals from $30.00 to $27.00 and set a buy rating for the company in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $36.11.

Shares of NASDAQ:GLMD opened at $11.56 on Tuesday. Galmed Pharmaceuticals has a one year low of $3.61 and a one year high of $27.06. The stock has a market capitalization of $188.99 million, a PE ratio of -11.80 and a beta of 2.64.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced 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 net margin of 1,072.44% and a negative return on equity of 36.66%. The business had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.27 million. As a group, sell-side analysts anticipate that Galmed Pharmaceuticals will post -0.61 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in Galmed Pharmaceuticals during the second quarter worth about $7,449,000. FNY Investment Advisers LLC purchased a new position in Galmed Pharmaceuticals during the second quarter worth about $333,000. DAFNA Capital Management LLC purchased a new position in Galmed Pharmaceuticals during the second quarter worth about $595,000. Baker BROS. Advisors LP purchased a new position in Galmed Pharmaceuticals during the second quarter worth about $7,570,000. Finally, Nantahala Capital Management LLC raised its holdings in Galmed Pharmaceuticals by 140.1% during the second quarter. Nantahala Capital Management LLC now owns 741,108 shares of the biopharmaceutical company’s stock worth $8,819,000 after purchasing an additional 432,480 shares in the last quarter. 55.77% of the stock is 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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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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