Galmed Pharmaceuticals (NASDAQ:GLMD)‘s stock had its “buy” rating reaffirmed by stock analysts at Maxim Group in a report released on Tuesday, AnalystRatings.com reports. They presently have a $20.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price target points to a potential upside of 316.67% from the stock’s current price.
The analysts wrote, “Galmed reported 2Q19 with a net loss of ($4.2M) and ended the period with $83.6M in cash.””
A number of other research analysts have also issued reports on GLMD. Laidlaw assumed coverage on shares of Galmed Pharmaceuticals in a research note on Monday, July 22nd. They set a “buy” rating and a $25.00 price target on the stock. ValuEngine upgraded shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Finally, HC Wainwright restated a “buy” rating on shares of Galmed Pharmaceuticals in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Galmed Pharmaceuticals presently has an average rating of “Buy” and an average target price of $28.17.
Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.04. Equities analysts forecast that Galmed Pharmaceuticals will post -1.14 EPS for the current year.
Several large investors have recently added to or reduced their stakes in GLMD. Ibex Investors LLC grew its position in Galmed Pharmaceuticals by 22.4% during the second quarter. Ibex Investors LLC now owns 807,400 shares of the biopharmaceutical company’s stock valued at $5,934,000 after buying an additional 147,874 shares during the period. ARK Investment Management LLC lifted its stake in shares of Galmed Pharmaceuticals by 13.4% in the second 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 in the last quarter. Deutsche Bank AG purchased a new position in shares of Galmed Pharmaceuticals in the fourth quarter worth about $229,000. Delek Group Ltd. purchased a new position in shares of Galmed Pharmaceuticals in the first quarter worth about $173,000. Finally, Northern Trust Corp lifted its stake in shares of Galmed Pharmaceuticals by 16.3% in 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 in the last quarter. Hedge funds and other institutional investors own 36.22% of the company’s stock.
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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