Galmed Pharmaceuticals Ltd (NASDAQ:GLMD)’s share price was down 10.6% during trading on Thursday . The stock traded as low as $15.90 and last traded at $16.06. Approximately 1,374,895 shares changed hands during mid-day trading, an increase of 429% from the average daily volume of 259,953 shares. The stock had previously closed at $17.96.
Several equities analysts have commented on GLMD shares. ValuEngine cut shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research report on Tuesday, May 15th. Maxim Group set a $14.00 price target on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, May 9th. Finally, HC Wainwright raised their price target on shares of Galmed Pharmaceuticals from $24.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Galmed Pharmaceuticals has an average rating of “Buy” and an average target price of $26.92.
The stock has a market cap of $108.05 million, a P/E ratio of -16.39 and a beta of 2.73.
Several institutional investors have recently added to or reduced their stakes in GLMD. A.R.T. Advisors LLC purchased a new stake in shares of Galmed Pharmaceuticals during the 1st quarter worth $107,000. UBS Group AG lifted its position in shares of Galmed Pharmaceuticals by 5,334.8% during the 1st quarter. UBS Group AG now owns 40,000 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 39,264 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Galmed Pharmaceuticals during the 4th quarter worth $246,000. Renaissance Technologies LLC purchased a new stake in shares of Galmed Pharmaceuticals during the 4th quarter worth $345,000. Finally, J. Goldman & Co LP purchased a new stake in shares of Galmed Pharmaceuticals during the 4th quarter worth $569,000. 17.28% of the stock is 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 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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