Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Expected to Announce Quarterly Sales of $290,000.00
Wall Street brokerages forecast that Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) will post sales of $290,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Galmed Pharmaceuticals’ earnings. The highest sales estimate is $300,000.00 and the lowest is $280,000.00. Galmed Pharmaceuticals posted sales of $190,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 52.6%. The firm is scheduled to announce its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Galmed Pharmaceuticals will report full year sales of $290,000.00 for the current financial year, with estimates ranging from $1.09 million to $1.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $550,000.00 per share. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Galmed Pharmaceuticals.
Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings data on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Galmed Pharmaceuticals had a negative net margin of 1,443.98% and a negative return on equity of 141.13%. The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.29 million.
A number of brokerages have recently commented on GLMD. Maxim Group set a $9.00 price target on Galmed Pharmaceuticals and gave the company a “buy” rating in a report on Monday, May 15th. Zacks Investment Research upgraded 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. Finally, ValuEngine upgraded Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th.
Shares of Galmed Pharmaceuticals (NASDAQ GLMD) opened at 7.11 on Monday. The firm’s 50 day moving average is $6.63 and its 200 day moving average is $5.22. The stock’s market capitalization is $86.88 million. Galmed Pharmaceuticals has a 12 month low of $2.78 and a 12 month high of $8.60.
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A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. KCG Holdings Inc. acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned about 0.17% of Galmed Pharmaceuticals at the end of the most recent reporting period. 7.99% of the stock is owned by institutional investors.
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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