Galmed Pharmaceuticals (NASDAQ:GLMD) Receives Buy Rating from Maxim Group

Maxim Group reaffirmed their buy rating on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research report released on Thursday morning, AnalystRatings.com reports. They currently have a $10.00 target price on the biopharmaceutical company’s stock.

GLMD has been the topic of several other research reports. Cantor Fitzgerald restated an overweight rating on shares of Galmed Pharmaceuticals in a report on Friday, October 18th. ValuEngine upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Galmed Pharmaceuticals from a buy rating to a hold rating and set a $4.25 target price on the stock. in a research note on Tuesday, October 29th. HC Wainwright restated a buy rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, August 6th. Finally, Laidlaw began coverage on shares of Galmed Pharmaceuticals in a research note on Monday, July 22nd. They issued a buy rating and a $25.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $25.71.

Shares of Galmed Pharmaceuticals stock traded down $0.16 during trading on Thursday, hitting $4.21. 56,400 shares of the company were exchanged, compared to its average volume of 88,563. The company has a quick ratio of 25.69, a current ratio of 25.69 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $99.83 million, a price-to-earnings ratio of -7.80 and a beta of 2.86. The firm has a 50 day moving average price of $4.27 and a 200 day moving average price of $5.73. Galmed Pharmaceuticals has a fifty-two week low of $3.42 and a fifty-two week high of $10.66.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.11. Analysts predict that Galmed Pharmaceuticals will post -1.08 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Galmed Pharmaceuticals by 796.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,207 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 4,626 shares in the last quarter. Morgan Stanley grew its position in shares of Galmed Pharmaceuticals by 132.1% during the 2nd quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 8,414 shares during the last quarter. Delek Group Ltd. grew its position in shares of Galmed Pharmaceuticals by 15.5% during the 2nd quarter. Delek Group Ltd. now owns 24,552 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 3,300 shares during the last quarter. ETF Managers Group LLC grew its position in shares of Galmed Pharmaceuticals by 34.7% during the 2nd quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock valued at $282,000 after buying an additional 11,649 shares during the last quarter. Finally, Rock Creek Group LP bought a new stake in shares of Galmed Pharmaceuticals during the 2nd quarter valued at about $420,000. Institutional investors and hedge funds own 36.81% of the company’s stock.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. The company is develops Aramchol, an oral therapy, which is completed ARREST Phase IIb clinical study for the treatment of patients with overweight or obesity, and who are pre-diabetic or type-II-diabetic with non-alcoholic steato-hepatitis.

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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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