Galmed Pharmaceuticals Ltd. (GLMD) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) from a buy rating to a hold rating in a research report report published on Wednesday.
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 research analysts have also issued research reports about the stock. Seaport Global Securities reissued a buy rating and issued a $19.00 price target on shares of Galmed Pharmaceuticals in a report on Friday, October 6th. Maxim Group set a $14.00 price target on shares of Galmed Pharmaceuticals and gave the stock a buy rating in a report on Thursday, October 5th. HC Wainwright raised their price target on shares of Galmed Pharmaceuticals from $12.00 to $18.00 and gave the stock a buy rating in a report on Tuesday, August 8th. Finally, ValuEngine raised shares of Galmed Pharmaceuticals from a sell rating to a hold rating in a report on Saturday, June 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $14.75.
Galmed Pharmaceuticals (NASDAQ:GLMD) opened at 8.87 on Wednesday. The firm’s market cap is $108.38 million. Galmed Pharmaceuticals has a 12-month low of $2.78 and a 12-month high of $9.59. The company has a 50-day moving average of $8.51 and a 200 day moving average of $6.60.
Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. The business had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.29 million. Galmed Pharmaceuticals had a negative net margin of 1,443.98% and a negative return on equity of 141.13%. Equities analysts expect that Galmed Pharmaceuticals will post ($0.94) EPS for the current fiscal year.
An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. KCG Holdings Inc. purchased a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned 0.17% of Galmed Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 8.32% of the company’s stock.
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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