Galmed Pharmaceuticals (NASDAQ:GLMD) Stock Rating Reaffirmed by Maxim Group

Galmed Pharmaceuticals (NASDAQ:GLMD)‘s stock had its “buy” rating reaffirmed by investment analysts at Maxim Group in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They presently have a $10.00 price objective on the biopharmaceutical company’s stock. Maxim Group’s price target points to a potential upside of 137.53% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Galmed Pharmaceuticals from a “buy” rating to a “hold” rating and set a $4.25 price target on the stock. in a research note on Tuesday, October 29th. Laidlaw began coverage on Galmed Pharmaceuticals in a research note on Monday, July 22nd. They issued a “buy” rating and a $25.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Galmed Pharmaceuticals in a research note on Friday, October 18th. ValuEngine raised Galmed Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, HC Wainwright reissued a “buy” rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.71.

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

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.11. As a group, research analysts forecast that Galmed Pharmaceuticals will post -1.08 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLMD. Ibex Investors LLC increased its position 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 acquiring an additional 147,874 shares during the last quarter. Premier Asset Management LLC acquired a new stake in shares of Galmed Pharmaceuticals in the second quarter valued at about $572,000. Rock Creek Group LP acquired a new stake in shares of Galmed Pharmaceuticals in the second quarter valued at about $420,000. ETF Managers Group LLC increased its position in shares of 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 acquiring an additional 11,649 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Galmed Pharmaceuticals by 132.1% in the second quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 8,414 shares during 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.

Further Reading: Gross Domestic Product (GDP)

Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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