Galmed Pharmaceuticals (GLMD) Downgraded by Zacks Investment Research to “Hold”

Galmed Pharmaceuticals (NASDAQ:GLMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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. “

GLMD has been the subject of several other reports. Roth Capital assumed coverage on shares of Galmed Pharmaceuticals in a report on Wednesday, November 15th. They issued a “buy” rating and a $32.00 price target for the company. ValuEngine downgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Maxim Group set a $14.00 price target on shares of Galmed Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, December 6th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Galmed Pharmaceuticals in a report on Friday, October 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $19.20.

Shares of Galmed Pharmaceuticals (NASDAQ:GLMD) traded down $0.37 during trading hours on Thursday, reaching $11.13. 71,649 shares of the company’s stock traded hands, compared to its average volume of 86,419. Galmed Pharmaceuticals has a 1 year low of $3.85 and a 1 year high of $12.22. The company has a market cap of $175.04, a P/E ratio of -9.12 and a beta of 2.46.

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. GRT Capital Partners L.L.C. acquired a new stake in shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 18,314 shares of the biopharmaceutical company’s stock, valued at approximately $114,000. GRT Capital Partners L.L.C. owned approximately 0.15% of Galmed Pharmaceuticals as of its most recent filing with the SEC. 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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