Brokerages Set Galmed Pharmaceuticals Ltd (GLMD) PT at $35.75

Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) has been assigned an average rating of “Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $35.75.

GLMD has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. ValuEngine lowered shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Maxim Group reissued a “buy” rating and set a $20.00 target price on shares of Galmed Pharmaceuticals in a research note on Tuesday, May 7th. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Galmed Pharmaceuticals in a research note on Wednesday, May 8th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $59.00 target price on shares of Galmed Pharmaceuticals in a research note on Wednesday, March 13th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Galmed Pharmaceuticals during the fourth quarter worth $33,000. Northern Trust Corp raised its holdings in Galmed Pharmaceuticals by 16.3% during the fourth quarter. Northern Trust Corp now owns 12,215 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 1,715 shares during the last quarter. Delek Group Ltd. acquired a new position in Galmed Pharmaceuticals during the first quarter worth $173,000. Deutsche Bank AG acquired a new position in Galmed Pharmaceuticals during the fourth quarter worth $229,000. Finally, ETF Managers Group LLC raised its holdings in Galmed Pharmaceuticals by 48.9% during the fourth quarter. ETF Managers Group LLC now owns 34,656 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 11,382 shares during the last quarter. 36.62% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:GLMD opened at $6.82 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 36.11 and a current ratio of 36.11. Galmed Pharmaceuticals has a 52 week low of $5.58 and a 52 week high of $27.06. The firm has a market capitalization of $147.34 million, a PE ratio of -12.63 and a beta of 2.59.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.02. Galmed Pharmaceuticals had a negative net margin of 423.62% and a negative return on equity of 12.23%. Equities research analysts forecast that Galmed Pharmaceuticals will post -1.14 earnings per share for the current 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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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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