Galmed Pharmaceuticals Ltd (GLMD) Expected to Announce Quarterly Sales of $280,000.00
Wall Street analysts predict that Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) will post sales of $280,000.00 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Galmed Pharmaceuticals’ earnings. The highest sales estimate is $300,000.00 and the lowest is $250,000.00. Galmed Pharmaceuticals posted sales of $270,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The business is scheduled to report its next quarterly earnings results on Thursday, March 22nd.
According to Zacks, analysts expect that Galmed Pharmaceuticals will report full year sales of $280,000.00 for the current financial year, with estimates ranging from $800,000.00 to $1.10 million. For the next fiscal year, analysts forecast that the company will post sales of $980,000.00 per share, with estimates ranging from $550,000.00 to $1.20 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Galmed Pharmaceuticals.
GLMD has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Galmed Pharmaceuticals in a report on Friday, October 27th. Seaport Global Securities reaffirmed a “buy” rating and issued a $19.00 price target on shares of Galmed Pharmaceuticals in a report on Friday, October 6th. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Tuesday, November 14th. Roth Capital initiated coverage on shares of Galmed Pharmaceuticals in a report on Wednesday, November 15th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Maxim Group set a $14.00 price target on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $18.30.
A hedge fund recently raised its stake in Galmed Pharmaceuticals stock. 683 Capital Management LLC lifted its position in shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) by 9.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 549,295 shares of the biopharmaceutical company’s stock after buying an additional 49,295 shares during the period. 683 Capital Management LLC owned 4.31% of Galmed Pharmaceuticals worth $5,021,000 as of its most recent SEC filing. Institutional investors and hedge funds own 9.85% of the company’s stock.
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About Galmed Pharmaceuticals
Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of once-daily, oral therapy for the treatment of liver diseases and cholesterol gallstones utilizing its synthetic fatty-acid/bile-acid conjugate (FABAC), called aramchol.
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