Galmed Pharmaceuticals (NASDAQ:GLMD) Posts Earnings Results, Beats Estimates By $0.04 EPS

Galmed Pharmaceuticals (NASDAQ:GLMD) announced its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.04, Morningstar.com reports.

Shares of Galmed Pharmaceuticals stock traded up $0.06 on Tuesday, reaching $4.95. 3,920 shares of the company were exchanged, compared to its average volume of 48,351. Galmed Pharmaceuticals has a 1-year low of $4.50 and a 1-year high of $14.65. The company has a market capitalization of $105.21 million, a P/E ratio of -9.17 and a beta of 2.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 36.11 and a current ratio of 36.11. The stock’s 50 day moving average is $6.47.

GLMD has been the subject of a number of analyst reports. Maxim Group reissued a “buy” rating and set a $20.00 price objective on shares of Galmed Pharmaceuticals in a research report on Tuesday. HC Wainwright reissued a “buy” rating on shares of Galmed Pharmaceuticals in a research report on Tuesday. ValuEngine raised Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 28th. Finally, Laidlaw initiated coverage on Galmed Pharmaceuticals in a research report on Monday, July 22nd. They set a “buy” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.17.

Institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC raised its position in Galmed Pharmaceuticals by 13.4% during the 2nd quarter. ARK Investment Management LLC now owns 60,948 shares of the biopharmaceutical company’s stock worth $448,000 after buying an additional 7,199 shares during the last quarter. Ibex Investors LLC grew its stake in Galmed Pharmaceuticals by 22.4% in the 2nd quarter. Ibex Investors LLC now owns 807,400 shares of the biopharmaceutical company’s stock valued at $5,934,000 after acquiring an additional 147,874 shares during the period. Delek Group Ltd. acquired a new stake in Galmed Pharmaceuticals in the 1st quarter valued at $173,000. Deutsche Bank AG acquired a new stake in Galmed Pharmaceuticals in the 4th quarter valued at $229,000. Finally, Northern Trust Corp grew its stake in Galmed Pharmaceuticals by 16.3% in the 4th quarter. Northern Trust Corp now owns 12,215 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 1,715 shares during the period. 36.22% of the stock is 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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Earnings History for Galmed Pharmaceuticals (NASDAQ:GLMD)

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