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

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

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A number of other equities research analysts have also weighed in on the stock. Cantor Fitzgerald restated an overweight rating on shares of Galmed Pharmaceuticals in a report on Friday, October 18th. Zacks Investment Research lowered shares of Galmed Pharmaceuticals from a buy rating to a hold rating and set a $4.25 price objective for the company. in a report on Tuesday, October 29th. Laidlaw started coverage on shares of Galmed Pharmaceuticals in a report on Monday, July 22nd. They issued a buy rating and a $25.00 price objective for the company. ValuEngine upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, October 2nd. Finally, HC Wainwright restated a buy rating on shares of Galmed Pharmaceuticals in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $25.71.

Shares of GLMD traded down $0.16 during trading hours 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 company has a market cap of $99.83 million, a price-to-earnings ratio of -7.80 and a beta of 2.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 25.69 and a quick ratio of 25.69. Galmed Pharmaceuticals has a 52-week low of $3.42 and a 52-week high of $10.66. The business has a 50 day simple moving average of $4.27 and a two-hundred day simple moving average of $5.73.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.11. Research analysts predict that Galmed Pharmaceuticals will post -1.08 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of GLMD. Ibex Investors LLC increased 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 worth $5,934,000 after buying an additional 147,874 shares during the period. ARK Investment Management LLC increased its stake in shares of Galmed Pharmaceuticals by 13.4% in the second quarter. ARK Investment Management LLC now owns 60,948 shares of the biopharmaceutical company’s stock worth $448,000 after buying an additional 7,199 shares during the period. Premier Asset Management LLC purchased a new position in shares of Galmed Pharmaceuticals in the second quarter worth $572,000. Delek Group Ltd. increased its stake in shares of Galmed Pharmaceuticals by 15.5% in the second quarter. Delek Group Ltd. now owns 24,552 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 3,300 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Galmed Pharmaceuticals by 796.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,207 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 4,626 shares during the period. 36.81% of the stock is currently owned by 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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