Galmed Pharmaceuticals (GLMD) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Galmed Pharmaceuticals (NASDAQ:GLMD) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $13.00 price objective on the biopharmaceutical company’s stock.

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 analysts have also issued research reports about the company. Maxim Group reiterated a buy rating and set a $14.00 price objective on shares of Galmed Pharmaceuticals in a research note on Thursday, November 9th. HC Wainwright reiterated a buy rating and set a $18.00 price objective on shares of Galmed Pharmaceuticals in a research note on Friday, November 10th. ValuEngine lowered Galmed Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, December 1st. Roth Capital assumed coverage on Galmed Pharmaceuticals in a research note on Wednesday, November 15th. They set a buy rating and a $32.00 price objective for the company. Finally, Seaport Global Securities reiterated a buy rating and set a $19.00 price objective on shares of Galmed Pharmaceuticals in a research note 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’s stock. The company presently has a consensus rating of Buy and a consensus price target of $19.20.

Galmed Pharmaceuticals (NASDAQ GLMD) traded down $0.06 during midday trading on Wednesday, hitting $11.07. The company’s stock had a trading volume of 34,068 shares, compared to its average volume of 90,738. The stock has a market cap of $140.97, a price-to-earnings ratio of -9.97 and a beta of 2.47. Galmed Pharmaceuticals has a twelve month low of $3.85 and a twelve month high of $12.22.

A hedge fund recently raised its stake in Galmed Pharmaceuticals stock. 683 Capital Management LLC lifted its holdings in Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,295 shares of the biopharmaceutical company’s stock after purchasing an additional 49,295 shares during the period. 683 Capital Management LLC owned about 4.31% of Galmed Pharmaceuticals worth $5,021,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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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