Galmed Pharmaceuticals (GLMD) Receives $22.25 Consensus Target Price from Brokerages

Galmed Pharmaceuticals (NASDAQ:GLMD) has been given a consensus rating of “Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.10.

Several equities research analysts have commented on the stock. Maxim Group set a $14.00 price target on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 9th. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Tuesday. Finally, ValuEngine raised shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.

Shares of GLMD traded down $0.09 during trading hours on Wednesday, reaching $6.16. 109,239 shares of the company traded hands, compared to its average volume of 66,739. The firm has a market capitalization of $90.45 million, a PE ratio of -6.29 and a beta of 2.72. Galmed Pharmaceuticals has a 12-month low of $5.99 and a 12-month high of $6.00.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings data on Monday, May 14th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. Galmed Pharmaceuticals had a negative net margin of 1,073.09% and a negative return on equity of 110.46%. The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.29 million. equities research analysts forecast that Galmed Pharmaceuticals will post -0.69 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. A.R.T. Advisors LLC purchased a new stake in Galmed Pharmaceuticals in the first quarter valued at $107,000. UBS Group AG boosted its holdings in Galmed Pharmaceuticals by 5,334.8% in the first quarter. UBS Group AG now owns 40,000 shares of the biopharmaceutical company’s stock valued at $223,000 after purchasing an additional 39,264 shares during the last quarter. Deutsche Bank AG purchased a new stake in Galmed Pharmaceuticals in the fourth quarter valued at $246,000. Renaissance Technologies LLC purchased a new stake in Galmed Pharmaceuticals in the fourth quarter valued at $345,000. Finally, J. Goldman & Co LP acquired a new position in shares of Galmed Pharmaceuticals in the fourth quarter worth about $569,000. 17.66% of the stock is currently owned by institutional investors.

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 in ARREST study, a 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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