Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $5.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective points to a potential upside of 16.28% from the company’s previous close.

According to Zacks, “Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It is focused on developing therapies for liver diseases and gallstones. Galmed Pharmaceuticals Ltd. is based in Tel Aviv, Israel. “

A number of other equities research analysts have also commented on the company. Maxim Group restated a “buy” rating on shares of Galmed Pharmaceuticals in a research report on Wednesday, June 8th. FBR & Co set a $20.00 price objective on Galmed Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 5th. Roth Capital restated a “buy” rating and set a $6.00 price objective on shares of Galmed Pharmaceuticals in a research report on Wednesday, July 6th. Finally, HC Wainwright restated a “buy” rating on shares of Galmed Pharmaceuticals in a research report on Thursday, June 30th. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $12.40.

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Galmed Pharmaceuticals (NASDAQ:GLMD) traded down 1.60% during trading on Wednesday, reaching $4.30. The company’s stock had a trading volume of 27,074 shares. The firm’s market capitalization is $47.74 million. Galmed Pharmaceuticals has a 52-week low of $3.50 and a 52-week high of $10.20. The stock’s 50-day moving average is $4.19 and its 200 day moving average is $4.71.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.04. On average, analysts predict that Galmed Pharmaceuticals will post ($1.51) EPS for the current fiscal year.

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.

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