Galmed Pharmaceuticals’ (GLMD) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in a research note published on Friday morning. HC Wainwright currently has a $18.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts have also commented on the stock. Seaport Global Securities reiterated a buy rating and set a $19.00 price objective on shares of Galmed Pharmaceuticals in a research note on Friday, October 6th. Maxim Group reiterated a buy rating and set a $14.00 price objective (up previously from $9.00) on shares of Galmed Pharmaceuticals in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating and set a $8.00 price objective on the stock in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Galmed Pharmaceuticals presently has an average rating of Buy and an average target price of $14.75.

Galmed Pharmaceuticals (NASDAQ:GLMD) traded up $0.82 during midday trading on Friday, hitting $7.60. 21,400 shares of the company were exchanged, compared to its average volume of 35,256. Galmed Pharmaceuticals has a fifty-two week low of $3.04 and a fifty-two week high of $9.59.

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A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. KCG Holdings Inc. purchased a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned about 0.17% of Galmed Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 8.25% of the stock is owned by hedge funds and other institutional investors.

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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