Galmed Pharmaceuticals (NASDAQ:GLMD) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Several other research firms have also commented on GLMD. Maxim Group restated a “buy” rating and issued a $14.00 price objective on shares of Galmed Pharmaceuticals in a research note on Thursday, November 9th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Galmed Pharmaceuticals in a research note on Friday, November 10th. Zacks Investment Research upgraded Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, January 10th. Finally, Roth Capital started coverage on Galmed Pharmaceuticals in a research note on Wednesday, November 15th. They issued a “buy” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Galmed Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $20.40.
Galmed Pharmaceuticals (NASDAQ GLMD) traded down $4.01 during trading hours on Wednesday, hitting $5.45. The stock had a trading volume of 877,313 shares, compared to its average volume of 56,780. The stock has a market cap of $82.24, a price-to-earnings ratio of -4.47 and a beta of 2.41. Galmed Pharmaceuticals has a 52-week low of $3.61 and a 52-week high of $12.22.
Hedge funds have recently modified their holdings of the business. Deutsche Bank AG purchased a new stake in Galmed Pharmaceuticals in the 4th quarter worth $246,000. Renaissance Technologies LLC purchased a new stake in Galmed Pharmaceuticals in the 4th quarter worth $345,000. Sphera Funds Management LTD. purchased a new stake in Galmed Pharmaceuticals in the 4th quarter worth $2,164,000. Finally, 683 Capital Management LLC increased its stake in Galmed Pharmaceuticals by 9.9% in the 3rd quarter. 683 Capital Management LLC now owns 549,295 shares of the biopharmaceutical company’s stock worth $5,021,000 after buying an additional 49,295 shares in the last quarter. Institutional investors and hedge funds own 9.80% of the company’s stock.
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Galmed Pharmaceuticals Company Profile
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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