Todays Report: Today, The Zacks Investment Research Upgraded Galmed Pharmaceuticals Ltd. (GLMD) to Buy

Today, The Zacks Investment Research Upgraded Galmed Pharmaceuticals Ltd. (GLMD) to Buy

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $4.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.19% from the stock’s current price.

According to Zacks, “Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It is focused on developing therapies for liver diseases and gallstones. Galmed Pharmaceuticals Ltd. is based in Tel Aviv, Israel. “

Several other research firms also recently issued reports on GLMD. HC Wainwright restated a “buy” rating on shares of Galmed Pharmaceuticals in a report on Monday, November 7th. Maxim Group reissued a “buy” rating and issued a $9.00 target price (down previously from $24.00) on shares of Galmed Pharmaceuticals in a research note on Monday, August 1st. Finally, FBR & Co set a $20.00 target price on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 5th. Five research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $12.20.

Shares of Galmed Pharmaceuticals (NASDAQ:GLMD) opened at 3.63 on Wednesday. Galmed Pharmaceuticals has a one year low of $2.78 and a one year high of $9.70. The company’s 50-day moving average price is $3.73 and its 200 day moving average price is $4.20. The company’s market cap is $44.10 million.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.05. Equities analysts forecast that Galmed Pharmaceuticals will post ($1.39) EPS for the current fiscal year.

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. P.A.W. Capital Corp acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 60,000 shares of the biopharmaceutical company’s stock, valued at approximately $266,000. P.A.W. Capital Corp owned 0.54% of Galmed Pharmaceuticals as of its most recent SEC filing. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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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