Galmed Pharmaceuticals (NASDAQ:GLMD) Upgraded to Buy by Zacks Investment Research

Galmed Pharmaceuticals (NASDAQ:GLMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $4.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 8.17% from the stock’s previous close.

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. “

Other equities analysts have also issued research reports about the company. ValuEngine raised Galmed Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Laidlaw began coverage on Galmed Pharmaceuticals in a research note on Monday, July 22nd. They set a “buy” rating and a $25.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Galmed Pharmaceuticals in a research note on Friday, October 18th. Maxim Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Galmed Pharmaceuticals in a research note on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $27.42.

Galmed Pharmaceuticals stock opened at $4.16 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.69 and a current ratio of 25.69. The firm has a market cap of $82.60 million, a P/E ratio of -7.70 and a beta of 2.83. The business’s fifty day moving average is $4.51 and its two-hundred day moving average is $6.09. Galmed Pharmaceuticals has a 52 week low of $3.42 and a 52 week high of $11.77.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. On average, equities research analysts predict that Galmed Pharmaceuticals will post -1.12 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its stake in Galmed Pharmaceuticals by 132.1% in the second 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. Rock Creek Group LP bought a new stake in Galmed Pharmaceuticals in the second quarter valued at $420,000. ETF Managers Group LLC lifted its stake in Galmed Pharmaceuticals by 34.7% in the second 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. Tower Research Capital LLC TRC lifted its stake in Galmed Pharmaceuticals by 796.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,207 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 4,626 shares during the last quarter. Finally, Delek Group Ltd. lifted its stake in Galmed Pharmaceuticals by 15.5% in the second 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. 36.81% of the stock is currently owned by institutional investors and hedge funds.

Galmed Pharmaceuticals Company Profile

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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