Analysts predict that Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) will announce sales of $290,000.00 for the current quarter, Zacks reports. Four analysts have issued estimates for Galmed Pharmaceuticals’ earnings. The lowest sales estimate is $270,000.00 and the highest is $300,000.00. Galmed Pharmaceuticals posted sales of $270,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The company is scheduled to announce its next earnings report on Monday, July 30th.
According to Zacks, analysts expect that Galmed Pharmaceuticals will report full-year sales of $850,000.00 for the current fiscal year, with estimates ranging from $540,000.00 to $1.17 million. For the next financial year, analysts forecast that the business will report sales of $3.00 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Galmed Pharmaceuticals.
Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its earnings results on Wednesday, May 16th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.29 million. Galmed Pharmaceuticals had a negative net margin of 1,073.09% and a negative return on equity of 110.46%.
A number of analysts recently issued reports on the stock. HC Wainwright increased their target price on shares of Galmed Pharmaceuticals from $24.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, June 12th. SunTrust Banks increased their target price on shares of Galmed Pharmaceuticals from $15.00 to $31.00 in a research report on Tuesday, June 12th. Maxim Group increased their target price on shares of Galmed Pharmaceuticals from $14.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 12th. ValuEngine raised shares of Galmed Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 12th. Finally, Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Tuesday, May 15th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.92.
A number of large investors have recently modified their holdings of GLMD. A.R.T. Advisors LLC acquired a new stake in Galmed Pharmaceuticals in the first quarter valued at approximately $107,000. UBS Group AG grew its position in Galmed Pharmaceuticals by 5,334.8% in the first quarter. UBS Group AG now owns 40,000 shares of the biopharmaceutical company’s stock valued at $223,000 after acquiring an additional 39,264 shares in the last quarter. Deutsche Bank AG acquired a new stake in Galmed Pharmaceuticals in the fourth quarter valued at approximately $246,000. Renaissance Technologies LLC acquired a new stake in Galmed Pharmaceuticals in the fourth quarter valued at approximately $345,000. Finally, J. Goldman & Co LP acquired a new stake in Galmed Pharmaceuticals in the fourth quarter valued at approximately $569,000. 17.28% of the stock is owned by institutional investors.
GLMD opened at $14.21 on Thursday. The company has a market cap of $230.14 million, a P/E ratio of -14.50 and a beta of 2.73. Galmed Pharmaceuticals has a 1 year low of $3.61 and a 1 year high of $27.06.
Galmed Pharmaceuticals Company Profile
Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. The company is develops Aramchol, an oral therapy, which is in ARREST study, a Phase IIb clinical study for the treatment of patients with overweight or obesity, and who are pre-diabetic or type-II-diabetic with non-alcoholic steato-hepatitis.
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