Zacks Investment Research upgraded shares of Galmed Pharmaceuticals (NASDAQ:GLMD) from a sell rating to a hold rating in a report issued 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. “
A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald set a $59.00 target price on shares of Galmed Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, October 2nd. Maxim Group lowered their target price on shares of Galmed Pharmaceuticals from $30.00 to $27.00 and set a buy rating for the company in a research note on Thursday, August 2nd. Raymond James assumed coverage on shares of Galmed Pharmaceuticals in a research note on Friday, July 20th. They set an outperform rating and a $26.00 target price for the company. Stifel Nicolaus assumed coverage on shares of Galmed Pharmaceuticals in a research note on Friday, July 13th. They set a buy rating and a $35.00 target price for the company. Finally, Imperial Capital assumed coverage on shares of Galmed Pharmaceuticals in a research note on Thursday, July 12th. They set an outperform rating and a $59.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Galmed Pharmaceuticals currently has an average rating of Buy and a consensus target price of $36.11.
Galmed Pharmaceuticals (NASDAQ:GLMD) last issued 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). The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.27 million. Galmed Pharmaceuticals had a negative return on equity of 36.66% and a negative net margin of 1,072.44%. Analysts expect that Galmed Pharmaceuticals will post -0.61 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Galmed Pharmaceuticals in the second quarter valued at $7,449,000. FNY Investment Advisers LLC purchased a new stake in Galmed Pharmaceuticals in the second quarter valued at $333,000. DAFNA Capital Management LLC purchased a new stake in Galmed Pharmaceuticals in the second quarter valued at $595,000. Baker BROS. Advisors LP purchased a new stake in Galmed Pharmaceuticals in the second quarter valued at $7,570,000. Finally, Nantahala Capital Management LLC lifted its position in Galmed Pharmaceuticals by 140.1% in the second quarter. Nantahala Capital Management LLC now owns 741,108 shares of the biopharmaceutical company’s stock valued at $8,819,000 after acquiring an additional 432,480 shares during 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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