Galmed Pharmaceuticals Ltd. (GLMD) PT Raised to $18.00

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) had its target price raised by equities research analysts at HC Wainwright from $12.00 to $18.00 in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 152.45% from the stock’s previous close.

A number of other brokerages have also commented on GLMD. Maxim Group reaffirmed a “buy” rating and issued a $14.00 target price (up from $9.00) on shares of Galmed Pharmaceuticals in a research report on Monday, July 31st. Zacks Investment Research raised Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Wednesday, August 2nd. Finally, ValuEngine raised Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th.

Galmed Pharmaceuticals (NASDAQ:GLMD) opened at 7.13 on Tuesday. The stock’s 50 day moving average price is $6.63 and its 200 day moving average price is $5.22. The firm’s market capitalization is $87.12 million. Galmed Pharmaceuticals has a 52-week low of $2.78 and a 52-week high of $8.60.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its earnings results on Monday, July 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Galmed Pharmaceuticals had a negative return on equity of 141.13% and a negative net margin of 1,443.98%. The business had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.29 million. On average, analysts predict that Galmed Pharmaceuticals will post ($0.95) EPS for the current fiscal year.

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An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. KCG Holdings Inc. purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned approximately 0.17% of Galmed Pharmaceuticals at the end of the most recent quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

Galmed Pharmaceuticals Company Profile

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.