ValuEngine Lowers Galmed Pharmaceuticals (GLMD) to Sell

Galmed Pharmaceuticals (NASDAQ:GLMD) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other research analysts also recently issued reports on GLMD. HC Wainwright lifted their price target on Galmed Pharmaceuticals from $18.00 to $24.00 and gave the company a “buy” rating in a report on Monday. Maxim Group cut Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Roth Capital began coverage on Galmed Pharmaceuticals in a research report on Wednesday, November 15th. They issued a “buy” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Galmed Pharmaceuticals has an average rating of “Hold” and a consensus target price of $20.40.

Shares of Galmed Pharmaceuticals (GLMD) traded down $4.01 during trading hours on Wednesday, hitting $5.45. The stock had a trading volume of 877,313 shares, compared to its average volume of 56,780. Galmed Pharmaceuticals has a twelve month low of $3.61 and a twelve month high of $12.22. The stock has a market cap of $82.24, a P/E ratio of -4.47 and a beta of 2.41.

Institutional investors have recently bought and sold shares of the company. Deutsche Bank AG acquired a new stake in shares of Galmed Pharmaceuticals in the 4th quarter worth $246,000. Renaissance Technologies LLC acquired a new stake in shares of Galmed Pharmaceuticals in the 4th quarter worth $345,000. Sphera Funds Management LTD. acquired a new stake in shares of Galmed Pharmaceuticals in the 4th quarter worth $2,164,000. Finally, 683 Capital Management LLC boosted its position in shares of Galmed Pharmaceuticals by 9.9% in the 3rd quarter. 683 Capital Management LLC now owns 549,295 shares of the biopharmaceutical company’s stock worth $5,021,000 after purchasing an additional 49,295 shares in 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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