Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.94.
A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Galmed Pharmaceuticals in a research note on Friday, October 18th. Canaccord Genuity started coverage on Galmed Pharmaceuticals in a research note on Monday, December 2nd. They issued a “buy” rating for the company. ValuEngine upgraded Galmed Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Maxim Group reissued a “buy” rating and set a $10.00 price target on shares of Galmed Pharmaceuticals in a research report on Thursday, November 7th. Finally, Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research report on Tuesday, November 12th.
Several hedge funds and other institutional investors have recently made changes to their positions in GLMD. Tower Research Capital LLC TRC raised its position in shares of Galmed Pharmaceuticals by 796.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,207 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 4,626 shares during the period. Morgan Stanley increased its stake in Galmed Pharmaceuticals by 132.1% during the second quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock worth $109,000 after acquiring an additional 8,414 shares during the last quarter. Phoenix Holdings Ltd. acquired a new stake in Galmed Pharmaceuticals during the third quarter worth $115,000. Delek Group Ltd. raised its position in Galmed Pharmaceuticals by 15.5% in the second quarter. Delek Group Ltd. now owns 24,552 shares of the biopharmaceutical company’s stock valued at $176,000 after purchasing an additional 3,300 shares during the period. Finally, ETF Managers Group LLC raised its position in Galmed Pharmaceuticals by 34.7% in 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 during the period. Institutional investors and hedge funds own 30.11% of the company’s stock.
Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.11. On average, equities analysts expect that Galmed Pharmaceuticals will post -0.93 EPS for the current year.
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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