Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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. “
Several other research firms also recently commented on GLMD. Maxim Group restated a “buy” rating and set a $9.00 price objective (down from $24.00) on shares of Galmed Pharmaceuticals in a report on Monday, August 1st. FBR & Co set a $20.00 price objective on Galmed Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, HC Wainwright restated a “buy” rating on shares of Galmed Pharmaceuticals in a report on Monday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.20.
Shares of Galmed Pharmaceuticals (NASDAQ:GLMD) opened at 3.7499 on Friday. Galmed Pharmaceuticals has a 52-week low of $2.78 and a 52-week high of $9.70. The stock’s market cap is $45.56 million. The company’s 50-day moving average price is $3.69 and its 200-day moving average price is $4.20.
Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.05. On average, equities research analysts forecast that Galmed Pharmaceuticals will post ($1.39) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. P.A.W. Capital Corp purchased a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.05% of the company’s stock.
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.