Zacks Investment Research upgraded shares of Galmed Pharmaceuticals (NASDAQ:GLMD) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $8.25 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 GLMD. ValuEngine downgraded shares of Galmed Pharmaceuticals from a buy rating to a hold rating in a report on Monday, November 26th. Cantor Fitzgerald set a $59.00 price target on shares of Galmed Pharmaceuticals and gave the company a buy rating in a report on Monday, November 5th. HC Wainwright reduced their price target on shares of Galmed Pharmaceuticals to $28.00 and set a buy rating on the stock in a report on Monday, January 14th. B. Riley assumed coverage on shares of Galmed Pharmaceuticals in a report on Tuesday, December 11th. They issued a buy rating and a $28.00 price target on the stock. Finally, Maxim Group set a $20.00 price target on shares of Galmed Pharmaceuticals and gave the company a buy rating in a report on Tuesday, November 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Galmed Pharmaceuticals currently has an average rating of Buy and an average target price of $32.69.

Shares of GLMD stock opened at $7.34 on Friday. The firm has a market cap of $116.76 million, a PE ratio of -7.49 and a beta of 2.70. Galmed Pharmaceuticals has a one year low of $3.61 and a one year high of $27.06.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its stake in shares of Galmed Pharmaceuticals by 1,768.2% in the 2nd quarter. Millennium Management LLC now owns 315,356 shares of the biopharmaceutical company’s stock worth $3,753,000 after buying an additional 298,476 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Galmed Pharmaceuticals in the 2nd quarter worth $284,000. Wells Fargo & Company MN purchased a new position in shares of Galmed Pharmaceuticals in the 3rd quarter worth $297,000. Trellus Management Company LLC purchased a new position in shares of Galmed Pharmaceuticals in the 3rd quarter worth $227,000. Finally, ARK Investment Management LLC purchased a new position in shares of Galmed Pharmaceuticals in the 3rd quarter worth $487,000. Institutional investors own 49.09% of the company’s stock.

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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