Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) has earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $16.94.
GLMD has been the subject of several analyst reports. ValuEngine downgraded Galmed Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Canaccord Genuity initiated coverage on Galmed Pharmaceuticals in a research report on Monday, December 2nd. They set a “buy” rating for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Galmed Pharmaceuticals in a research report on Friday, October 18th. Zacks Investment Research upgraded Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research report on Tuesday, November 12th. Finally, Maxim Group restated a “buy” rating and set a $10.00 target price on shares of Galmed Pharmaceuticals in a research report on Thursday, November 7th.
Several institutional investors have recently bought and sold shares of the stock. Ibex Investors LLC raised its position in Galmed Pharmaceuticals by 18.3% in the 3rd quarter. Ibex Investors LLC now owns 955,105 shares of the biopharmaceutical company’s stock valued at $4,565,000 after purchasing an additional 147,705 shares during the last quarter. Premier Asset Management LLC bought a new position in Galmed Pharmaceuticals in the 2nd quarter valued at $572,000. ARK Investment Management LLC raised its position in Galmed Pharmaceuticals by 13.4% in the 2nd quarter. ARK Investment Management LLC now owns 60,948 shares of the biopharmaceutical company’s stock valued at $448,000 after purchasing an additional 7,199 shares during the last quarter. Rock Creek Group LP bought a new position in Galmed Pharmaceuticals in the 2nd quarter valued at $420,000. Finally, ETF Managers Group LLC raised its position in Galmed Pharmaceuticals by 34.7% in the 2nd quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock valued at $282,000 after purchasing an additional 11,649 shares during the last quarter. Institutional investors and hedge funds own 34.66% of the company’s stock.
Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.11. On average, research analysts forecast that Galmed Pharmaceuticals will post -0.93 earnings per share for the current fiscal year.
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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