Maxim Group Reaffirms Buy Rating for Galmed Pharmaceuticals (NASDAQ:GLMD)

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Galmed Pharmaceuticals (NASDAQ:GLMD)‘s stock had its “buy” rating restated by investment analysts at Maxim Group in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $10.00 target price on the biopharmaceutical company’s stock. Maxim Group’s price objective suggests a potential upside of 137.53% from the stock’s current price.

Several other brokerages also recently issued reports on GLMD. HC Wainwright reiterated a “buy” rating on shares of Galmed Pharmaceuticals in a report on Tuesday, August 6th. Zacks Investment Research cut shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating and set a $4.25 price objective on the stock. in a research note on Tuesday, October 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Galmed Pharmaceuticals in a research note on Friday, October 18th. ValuEngine raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Laidlaw began coverage on shares of Galmed Pharmaceuticals in a research note on Monday, July 22nd. They issued a “buy” rating and a $25.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $25.71.

Shares of NASDAQ GLMD traded down $0.16 during midday trading on Thursday, reaching $4.21. The company’s stock had a trading volume of 56,400 shares, compared to its average volume of 88,563. The business’s 50 day moving average price is $4.27 and its two-hundred day moving average price is $5.73. The company has a market cap of $99.83 million, a P/E ratio of -7.80 and a beta of 2.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.69 and a current ratio of 25.69. Galmed Pharmaceuticals has a fifty-two week low of $3.42 and a fifty-two week high of $10.66.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.11. Sell-side analysts forecast that Galmed Pharmaceuticals will post -1.08 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. Ibex Investors LLC grew its stake in shares of Galmed Pharmaceuticals by 18.3% in the third quarter. Ibex Investors LLC now owns 955,105 shares of the biopharmaceutical company’s stock worth $4,565,000 after purchasing an additional 147,705 shares during the last quarter. Morgan Stanley grew its stake in shares of Galmed Pharmaceuticals by 132.1% in the second quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 8,414 shares during the last quarter. Rock Creek Group LP bought a new stake in shares of Galmed Pharmaceuticals in the second quarter worth $420,000. ETF Managers Group LLC grew its stake in shares of Galmed Pharmaceuticals by 34.7% in the second quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock worth $282,000 after purchasing an additional 11,649 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of 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 worth $38,000 after purchasing an additional 4,626 shares during the last quarter. 36.81% of the stock is currently owned by institutional investors.

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.

See Also: Retained Earnings

Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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