HC Wainwright Raises Galmed Pharmaceuticals (GLMD) Price Target to $24.00

Galmed Pharmaceuticals (NASDAQ:GLMD) had its target price upped by analysts at HC Wainwright from $18.00 to $24.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 147.42% from the stock’s current price.

A number of other analysts have also recently commented on the stock. ValuEngine upgraded shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Maxim Group set a $14.00 price target on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Finally, Roth Capital began coverage on shares of Galmed Pharmaceuticals in a research note on Wednesday, November 15th. They issued a “buy” rating and a $32.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Galmed Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $20.40.

Shares of Galmed Pharmaceuticals (GLMD) opened at $9.70 on Monday. The company has a market cap of $123.51, a price-to-earnings ratio of -8.74 and a beta of 2.42. Galmed Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $12.22.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates 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%. equities research analysts expect that Galmed Pharmaceuticals will post -0.93 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Galmed Pharmaceuticals stock. 683 Capital Management LLC lifted its stake in shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) by 9.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 549,295 shares of the biopharmaceutical company’s stock after buying an additional 49,295 shares during the quarter. 683 Capital Management LLC owned about 4.31% of Galmed Pharmaceuticals worth $5,021,000 as of its most recent SEC filing. Institutional investors own 9.80% of the company’s stock.

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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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