Maxim Group Reiterates $14.00 Price Target for Galmed Pharmaceuticals (GLMD)

Maxim Group set a $14.00 target price on Galmed Pharmaceuticals (NASDAQ:GLMD) in a report released on Tuesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the company. HC Wainwright lifted their price objective on Galmed Pharmaceuticals from $18.00 to $24.00 and gave the company a buy rating in a report on Monday, February 12th. ValuEngine cut Galmed Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, February 14th. Finally, Zacks Investment Research raised Galmed Pharmaceuticals from a hold rating to a buy rating and set a $13.00 price objective for the company in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $20.40.

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Shares of NASDAQ GLMD opened at $6.00 on Tuesday. Galmed Pharmaceuticals has a fifty-two week low of $3.61 and a fifty-two week high of $12.22.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings data on Tuesday, March 13th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.04). The company had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.28 million. Galmed Pharmaceuticals had a negative net margin of 1,133.55% and a negative return on equity of 133.50%. research analysts anticipate that Galmed Pharmaceuticals will post -0.77 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Deutsche Bank AG bought a new position in shares of Galmed Pharmaceuticals in the 4th quarter valued at $246,000. Renaissance Technologies LLC bought a new position in shares of Galmed Pharmaceuticals in the 4th quarter valued at $345,000. J. Goldman & Co LP bought a new position in shares of Galmed Pharmaceuticals in the 4th quarter valued at $569,000. Sphera Funds Management LTD. bought a new position in shares of Galmed Pharmaceuticals in the 4th quarter valued at $2,164,000. Finally, Park West Asset Management LLC increased its stake in shares of Galmed Pharmaceuticals by 4.4% in the 4th quarter. Park West Asset Management LLC now owns 292,847 shares of the biopharmaceutical company’s stock valued at $2,679,000 after purchasing an additional 12,347 shares during the last quarter. Institutional investors own 18.86% 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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