Galmed Pharmaceuticals (NASDAQ:GLMD) Earns Buy Rating from Maxim Group

Maxim Group reiterated their buy rating on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report issued on Thursday morning, AnalystRatings.com reports. The firm currently has a $10.00 target price on the biopharmaceutical company’s stock.

GLMD has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an overweight rating on shares of Galmed Pharmaceuticals in a research note on Friday, October 18th. ValuEngine raised shares of Galmed Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, October 2nd. HC Wainwright reaffirmed a buy rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, August 6th. Zacks Investment Research lowered shares of Galmed Pharmaceuticals from a buy rating to a hold rating and set a $4.25 price objective on the stock. in a research note on Tuesday, October 29th. Finally, Laidlaw started coverage on shares of Galmed Pharmaceuticals in a research note on Monday, July 22nd. They issued a buy rating and a $25.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $25.71.

NASDAQ GLMD traded down $0.16 on Thursday, hitting $4.21. The company’s stock had a trading volume of 56,400 shares, compared to its average volume of 88,563. The firm has a market cap of $99.83 million, a PE ratio of -7.80 and a beta of 2.86. Galmed Pharmaceuticals has a 1-year low of $3.42 and a 1-year high of $10.66. The company’s 50-day moving average is $4.27 and its 200 day moving average is $5.73. The company has a quick ratio of 25.69, a current ratio of 25.69 and a debt-to-equity ratio of 0.01.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.11. On average, equities analysts expect that Galmed Pharmaceuticals will post -1.08 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in GLMD. Ibex Investors LLC lifted its stake in shares of Galmed Pharmaceuticals by 22.4% in the second quarter. Ibex Investors LLC now owns 807,400 shares of the biopharmaceutical company’s stock valued at $5,934,000 after buying an additional 147,874 shares in the last quarter. Premier Asset Management LLC bought a new position in shares of Galmed Pharmaceuticals during the second quarter valued at about $572,000. Rock Creek Group LP bought a new position in shares of Galmed Pharmaceuticals during the second quarter valued at about $420,000. ETF Managers Group LLC lifted its position in shares of Galmed Pharmaceuticals by 34.7% during the second quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock valued at $282,000 after purchasing an additional 11,649 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Galmed Pharmaceuticals by 132.1% during the second quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 8,414 shares in the last quarter. 36.81% of the stock is currently owned by hedge funds and other institutional investors.

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 completed ARREST 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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