Galmed Pharmaceuticals (GLMD) Cut to “Hold” at Maxim Group

Galmed Pharmaceuticals (NASDAQ:GLMD) was downgraded by analysts at Maxim Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.

GLMD has been the subject of several other research reports. Roth Capital began coverage on shares of Galmed Pharmaceuticals in a research report on Wednesday, November 15th. They set a “buy” rating and a $32.00 price target for the company. ValuEngine lowered shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Galmed Pharmaceuticals in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $20.40.

Galmed Pharmaceuticals (GLMD) opened at $9.46 on Wednesday. Galmed Pharmaceuticals has a 52-week low of $3.53 and a 52-week high of $12.22. The firm has a market capitalization of $124.41, a PE ratio of -8.52 and a beta of 2.42.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of Galmed Pharmaceuticals during the 4th quarter valued at about $345,000. Sphera Funds Management LTD. purchased a new stake in shares of Galmed Pharmaceuticals during the 4th quarter valued at about $2,164,000. Finally, 683 Capital Management LLC increased its position in shares of Galmed Pharmaceuticals by 9.9% during the 3rd 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. 9.80% of the stock is owned by hedge funds and other institutional investors.

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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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