Galmed Pharmaceuticals (NASDAQ:GLMD) Coverage Initiated by Analysts at Canaccord Genuity

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Canaccord Genuity began coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report released on Monday morning, Briefing.com Automated Import reports. The brokerage issued a buy rating on the biopharmaceutical company’s stock.

GLMD has been the topic of several other reports. ValuEngine lowered shares of Galmed Pharmaceuticals from a buy rating to a hold rating in a report on Friday, November 8th. Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating and set a $4.75 target price for the company in a report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Galmed Pharmaceuticals in a research report on Friday, October 18th. HC Wainwright reaffirmed a buy rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, August 6th. Finally, Maxim Group reiterated a buy rating and issued a $10.00 price target on shares of Galmed Pharmaceuticals in a report on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus target price of $25.79.

NASDAQ GLMD traded down $0.26 during trading hours on Monday, hitting $6.35. 9,743 shares of the company’s stock were exchanged, compared to its average volume of 93,876. The business’s 50 day moving average is $4.43 and its 200-day moving average is $5.36. Galmed Pharmaceuticals has a 12-month low of $3.42 and a 12-month high of $9.74. The firm has a market capitalization of $135.36 million, a P/E ratio of -11.73 and a beta of 2.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 22.78 and a current ratio of 22.78.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.11. As a group, equities research analysts anticipate that Galmed Pharmaceuticals will post -0.93 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of Galmed Pharmaceuticals by 796.2% during the 2nd 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 period. Morgan Stanley increased its position in Galmed Pharmaceuticals by 132.1% during the 2nd quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 8,414 shares in the last quarter. Phoenix Holdings Ltd. purchased a new position in Galmed Pharmaceuticals in the third quarter valued at approximately $115,000. Delek Group Ltd. raised its holdings 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 period. Finally, ETF Managers Group LLC increased its position 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 acquiring an additional 11,649 shares in the last quarter. 30.11% 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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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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