Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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. “
A number of other brokerages have also weighed in on GLMD. HC Wainwright reaffirmed a “buy” rating on shares of Galmed Pharmaceuticals in a research note on Monday, November 7th. Maxim Group reaffirmed a “buy” rating and issued a $9.00 price target (down from $24.00) on shares of Galmed Pharmaceuticals in a research note on Monday, August 1st. Finally, FBR & Co set a $20.00 price target on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.20.
Shares of Galmed Pharmaceuticals (NASDAQ:GLMD) traded up 3.3030% on Friday, hitting $3.7499. The company’s stock had a trading volume of 32,476 shares. The stock has a 50-day moving average price of $3.69 and a 200 day moving average price of $4.20. Galmed Pharmaceuticals has a one year low of $2.78 and a one year high of $9.70. The firm’s market cap is $45.56 million.
Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.05. Equities research analysts predict that Galmed Pharmaceuticals will post ($1.39) EPS for the current year.
A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. P.A.W. Capital Corp purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 60,000 shares of the biopharmaceutical company’s stock, valued at approximately $266,000. P.A.W. Capital Corp owned about 0.54% of Galmed Pharmaceuticals as of its most recent SEC filing. 5.05% of the stock is currently 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.