Galmed Pharmaceuticals (NASDAQ:GLMD) Downgraded by Zacks Investment Research to Hold

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Galmed Pharmaceuticals (NASDAQ:GLMD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It is focused on developing therapies for liver diseases and gallstones. Galmed Pharmaceuticals Ltd. is based in Tel Aviv, Israel. “

Other equities analysts have also recently issued research reports about the stock. Maxim Group reaffirmed a “buy” rating and set a $10.00 price target on shares of Galmed Pharmaceuticals in a research report on Thursday, November 7th. ValuEngine raised shares of Galmed Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Canaccord Genuity started coverage on shares of Galmed Pharmaceuticals in a research report on Monday, December 2nd. They set a “buy” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Galmed Pharmaceuticals in a research report on Friday, October 18th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.90.

Shares of GLMD stock traded up $0.11 during trading hours on Tuesday, hitting $6.67. 47,723 shares of the company were exchanged, compared to its average volume of 101,058. The company has a debt-to-equity ratio of 0.01, a quick ratio of 22.78 and a current ratio of 22.78. Galmed Pharmaceuticals has a one year low of $3.42 and a one year high of $9.37. The business’s 50-day simple moving average is $5.87 and its two-hundred day simple moving average is $5.31. The stock has a market capitalization of $134.95 million, a price-to-earnings ratio of -12.35 and a beta of 2.96.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.11. As a group, analysts anticipate that Galmed Pharmaceuticals will post -0.93 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ibex Investors LLC lifted its holdings in Galmed Pharmaceuticals by 18.3% in the third quarter. Ibex Investors LLC now owns 955,105 shares of the biopharmaceutical company’s stock worth $4,565,000 after acquiring an additional 147,705 shares during the last quarter. Rock Creek Group LP bought a new position in Galmed Pharmaceuticals in the second quarter worth about $420,000. ETF Managers Group LLC lifted its holdings in Galmed Pharmaceuticals by 34.7% in the second quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock worth $282,000 after acquiring an additional 11,649 shares during the last quarter. Phoenix Holdings Ltd. bought a new position in Galmed Pharmaceuticals in the third quarter worth about $115,000. Finally, Morgan Stanley lifted its holdings in Galmed Pharmaceuticals by 132.1% in the second quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock worth $109,000 after acquiring an additional 8,414 shares during the last quarter. 34.54% of the stock is currently owned by hedge funds and other institutional investors.

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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