Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) has been given an average recommendation of “Buy” by the eleven research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.00.
GLMD has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Galmed Pharmaceuticals in a research note on Friday, November 13th. Canaccord Genuity decreased their price target on shares of Galmed Pharmaceuticals from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, November 25th. Raymond James decreased their price target on shares of Galmed Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, January 8th. Finally, Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday.
A number of institutional investors and hedge funds have recently made changes to their positions in GLMD. Ibex Investors LLC increased its stake in Galmed Pharmaceuticals by 53.8% in the 3rd quarter. Ibex Investors LLC now owns 1,515,000 shares of the biopharmaceutical company’s stock worth $5,348,000 after purchasing an additional 530,000 shares in the last quarter. P.A.W. Capital Corp lifted its stake in shares of Galmed Pharmaceuticals by 100.0% during the third quarter. P.A.W. Capital Corp now owns 200,000 shares of the biopharmaceutical company’s stock valued at $706,000 after acquiring an additional 100,000 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Galmed Pharmaceuticals during the third quarter valued at $85,000. Morgan Stanley lifted its stake in shares of Galmed Pharmaceuticals by 17.6% during the third quarter. Morgan Stanley now owns 130,165 shares of the biopharmaceutical company’s stock valued at $459,000 after acquiring an additional 19,462 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in shares of Galmed Pharmaceuticals during the third quarter valued at $46,000. 35.66% of the stock is currently owned by institutional investors.
Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings data on Thursday, November 12th. The biopharmaceutical company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). As a group, research analysts predict that Galmed Pharmaceuticals will post -1.24 EPS for the current fiscal year.
About Galmed Pharmaceuticals
Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. It develops Aramchol, an oral therapy, which is in ARREST Phase III pivotal study for the treatment of non-alcoholic steato-hepatitis (NASH) in patients with overweight or obesity, and who are pre-diabetic or type-II-diabetes mellitus.
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