Zacks Investment Research lowered shares of Galmed Pharmaceuticals (NASDAQ:GLMD) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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. “

A number of other equities analysts also recently weighed in on the stock. Cantor Fitzgerald set a $59.00 target price on shares of Galmed Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, October 2nd. Maxim Group cut their price target on shares of Galmed Pharmaceuticals from $30.00 to $27.00 and set a buy rating on the stock in a report on Thursday, August 2nd. Raymond James assumed coverage on shares of Galmed Pharmaceuticals in a report on Friday, July 20th. They set an outperform rating and a $26.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of Galmed Pharmaceuticals in a report on Friday, July 13th. They set a buy rating and a $35.00 price target on the stock. Finally, Imperial Capital assumed coverage on shares of Galmed Pharmaceuticals in a report on Thursday, July 12th. They set an outperform rating and a $59.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Galmed Pharmaceuticals has a consensus rating of Buy and an average price target of $36.11.

Shares of NASDAQ GLMD opened at $11.64 on Wednesday. Galmed Pharmaceuticals has a fifty-two week low of $3.61 and a fifty-two week high of $27.06. The company has a market cap of $216.03 million, a price-to-earnings ratio of -11.88 and a beta of 2.64.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). Galmed Pharmaceuticals had a negative net margin of 1,072.44% and a negative return on equity of 36.66%. The business had revenue of $0.27 million for the quarter, compared to the consensus estimate of $0.27 million. On average, equities research analysts expect that Galmed Pharmaceuticals will post -0.59 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. 683 Capital Management LLC grew its holdings in shares of Galmed Pharmaceuticals by 107.9% during the second quarter. 683 Capital Management LLC now owns 1,350,000 shares of the biopharmaceutical company’s stock valued at $16,065,000 after buying an additional 700,705 shares during the last quarter. Vivo Capital LLC purchased a new stake in Galmed Pharmaceuticals in the second quarter worth approximately $9,433,000. Nantahala Capital Management LLC boosted its holdings in Galmed Pharmaceuticals by 140.1% in the second quarter. Nantahala Capital Management LLC now owns 741,108 shares of the biopharmaceutical company’s stock worth $8,819,000 after purchasing an additional 432,480 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in Galmed Pharmaceuticals in the second quarter worth approximately $7,570,000. Finally, Point72 Asset Management L.P. purchased a new stake in Galmed Pharmaceuticals in the second quarter worth approximately $7,449,000. Hedge funds and other institutional investors own 55.77% of the company’s stock.

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.

Read More: Hedge Funds – Risk or Reward?

Get a free copy of the Zacks research report on Galmed Pharmaceuticals (GLMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.