Shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.75.
GLMD has been the subject of a number of recent analyst reports. Maxim Group set a $14.00 price objective on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, October 5th. Seaport Global Securities restated a “buy” rating and issued a $19.00 price objective on shares of Galmed Pharmaceuticals in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Galmed Pharmaceuticals in a research report on Friday, October 27th. Finally, Roth Capital initiated coverage on shares of Galmed Pharmaceuticals in a research report on Wednesday, November 15th. They issued a “buy” rating and a $32.00 price objective for the company.
A hedge fund recently raised its stake in Galmed Pharmaceuticals stock. 683 Capital Management LLC raised its stake in Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 549,295 shares of the biopharmaceutical company’s stock after buying an additional 49,295 shares during the period. 683 Capital Management LLC owned approximately 4.31% of Galmed Pharmaceuticals worth $5,021,000 at the end of the most recent reporting period. 9.85% of the stock is currently owned by institutional investors.
Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.04. Galmed Pharmaceuticals had a negative net margin of 1,242.49% and a negative return on equity of 167.83%. research analysts forecast that Galmed Pharmaceuticals will post -0.93 earnings per share for the current fiscal year.
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About Galmed Pharmaceuticals
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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