Galmed Pharmaceuticals (NASDAQ:GLMD) had its price target decreased by stock analysts at HC Wainwright to $28.00 in a research note issued to investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 222.95% from the stock’s current price.

Several other analysts also recently issued reports on GLMD. Cantor Fitzgerald set a $59.00 price objective on shares of Galmed Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research downgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. ValuEngine downgraded shares of Galmed Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 27th. Maxim Group set a $20.00 price objective on shares of Galmed Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, November 13th. Finally, B. Riley started coverage on shares of Galmed Pharmaceuticals in a report on Tuesday, December 11th. They set a “buy” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.11.

GLMD stock opened at $8.67 on Monday. The company has a market capitalization of $143.81 million, a price-to-earnings ratio of -8.85 and a beta of 2.77. Galmed Pharmaceuticals has a 12 month low of $3.61 and a 12 month high of $27.06.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The company had revenue of $1.50 million during the quarter, compared to the consensus estimate of $0.30 million. Galmed Pharmaceuticals had a negative net margin of 423.62% and a negative return on equity of 18.55%. On average, sell-side analysts predict that Galmed Pharmaceuticals will post -0.48 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of GLMD. Ibex Investors LLC raised its stake in Galmed Pharmaceuticals by 23.3% during the 3rd quarter. Ibex Investors LLC now owns 418,000 shares of the biopharmaceutical company’s stock valued at $5,676,000 after purchasing an additional 79,000 shares during the last quarter. Vivo Capital LLC raised its stake in Galmed Pharmaceuticals by 7.4% during the 3rd quarter. Vivo Capital LLC now owns 851,492 shares of the biopharmaceutical company’s stock valued at $11,563,000 after purchasing an additional 58,785 shares during the last quarter. ARK Investment Management LLC acquired a new position in Galmed Pharmaceuticals during the 3rd quarter valued at $487,000. Trellus Management Company LLC acquired a new position in Galmed Pharmaceuticals during the 3rd quarter valued at $227,000. Finally, Wells Fargo & Company MN acquired a new position in Galmed Pharmaceuticals during the 3rd quarter valued at $297,000. 47.88% of the stock is owned by institutional investors and hedge funds.

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.

See Also: What type of investment options does a Roth IRA provide?

The Fly

Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

Receive News & Ratings for Galmed Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galmed Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.