Galmed Pharmaceuticals Ltd. (GLMD) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) issued its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.11, MarketWatch Earnings reports. Galmed Pharmaceuticals had a negative net margin of 1,443.98% and a negative return on equity of 141.13%. The company had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.29 million.

Shares of Galmed Pharmaceuticals (NASDAQ GLMD) opened at 7.62 on Friday. The firm’s market cap is $93.11 million. The stock’s 50 day moving average is $7.25 and its 200-day moving average is $5.54. Galmed Pharmaceuticals has a 52-week low of $2.78 and a 52-week high of $8.87.

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. GRT Capital Partners L.L.C. purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,314 shares of the biopharmaceutical company’s stock, valued at approximately $114,000. GRT Capital Partners L.L.C. owned 0.15% of Galmed Pharmaceuticals at the end of the most recent quarter. 7.72% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages have issued reports on GLMD. Maxim Group reaffirmed a “buy” rating and issued a $14.00 price objective (up previously from $9.00) on shares of Galmed Pharmaceuticals in a research report on Monday, July 31st. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Wednesday, August 2nd. HC Wainwright raised their price target on shares of Galmed Pharmaceuticals from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Finally, ValuEngine raised shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th.

Galmed Pharmaceuticals Company Profile

Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of once-daily, oral therapy for the treatment of liver diseases and cholesterol gallstones utilizing its synthetic fatty-acid/bile-acid conjugate (FABAC), called aramchol.

Earnings History for Galmed Pharmaceuticals (NASDAQ:GLMD)

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