Maxim Group Upgrades Galmed Pharmaceuticals (GLMD) to “Buy”

Maxim Group upgraded shares of Galmed Pharmaceuticals (NASDAQ:GLMD) from a hold rating to a buy rating in a research report released on Thursday, March 15th, MarketBeat.com reports. Maxim Group currently has $14.00 target price on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. 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 research report on Wednesday, January 10th. Roth Capital assumed coverage on Galmed Pharmaceuticals in a research report on Wednesday, November 15th. They set a buy rating and a $32.00 price objective for the company. HC Wainwright raised their target price on Galmed Pharmaceuticals from $18.00 to $24.00 and gave the company a buy rating in a report on Monday, February 12th. Finally, ValuEngine upgraded Galmed Pharmaceuticals from a sell rating to a hold rating in a report on Friday, February 2nd. One 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 stock presently has a consensus rating of Buy and a consensus price target of $20.40.

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GLMD opened at $6.00 on Thursday. The firm has a market cap of $93.69, a P/E ratio of -6.12 and a beta of 2.74. Galmed Pharmaceuticals has a 1 year low of $3.61 and a 1 year high of $12.22.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings data on Tuesday, March 13th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The firm had revenue of $0.27 million for 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%. equities analysts forecast that Galmed Pharmaceuticals will post -0.77 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 683 Capital Management LLC raised its holdings in Galmed Pharmaceuticals by 18.2% during the fourth quarter. 683 Capital Management LLC now owns 649,295 shares of the biopharmaceutical company’s stock valued at $5,941,000 after buying an additional 100,000 shares in the last quarter. Meitav Dash Investments Ltd. bought a new position in Galmed Pharmaceuticals during the fourth quarter valued at about $4,357,000. Park West Asset Management LLC raised its holdings in Galmed Pharmaceuticals by 4.4% during the fourth quarter. Park West Asset Management LLC now owns 292,847 shares of the biopharmaceutical company’s stock valued at $2,679,000 after buying an additional 12,347 shares in the last quarter. Sphera Funds Management LTD. bought a new position in Galmed Pharmaceuticals during the fourth quarter valued at about $2,164,000. Finally, J. Goldman & Co LP bought a new position in Galmed Pharmaceuticals during the fourth quarter valued at about $569,000. 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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