Galmed Pharmaceuticals (GLMD) Given New $28.00 Price Target at HC Wainwright
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.
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.
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