Shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.75.
Several research analysts have recently issued reports on GLMD shares. Maxim Group set a $14.00 price target on Galmed Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, October 5th. Seaport Global Securities reissued a “buy” rating and issued a $19.00 price target on shares of Galmed Pharmaceuticals in a research note on Friday, October 6th. Zacks Investment Research cut Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Galmed Pharmaceuticals in a research note on Friday, October 27th. Finally, Roth Capital started coverage on Galmed Pharmaceuticals in a research note on Wednesday, November 15th. They set a “buy” rating and a $32.00 target price for the company.
Hedge funds have recently made changes to their positions in the stock. KCG Holdings Inc. bought a new position in Galmed Pharmaceuticals during the first quarter valued at about $100,000. GRT Capital Partners L.L.C. purchased a new stake in shares of Galmed Pharmaceuticals during the second quarter valued at $114,000. Finally, 683 Capital Management LLC lifted its holdings in shares of Galmed Pharmaceuticals by 9.9% during the third quarter. 683 Capital Management LLC now owns 549,295 shares of the biopharmaceutical company’s stock valued at $5,021,000 after purchasing an additional 49,295 shares during the last quarter. 9.85% of the stock is owned by institutional investors and hedge funds.
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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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