Galmed Pharmaceuticals (GLMD) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Galmed Pharmaceuticals (NASDAQ:GLMD) announced its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09, Morningstar.com reports. The firm had revenue of $1.50 million for the quarter, compared to analysts’ expectations of $0.30 million. Galmed Pharmaceuticals had a negative net margin of 1,072.44% and a negative return on equity of 36.66%.

NASDAQ:GLMD traded down $0.67 on Tuesday, reaching $10.71. 5,332 shares of the company’s stock were exchanged, compared to its average volume of 145,773. The firm has a market capitalization of $171.80 million, a PE ratio of -10.90 and a beta of 2.90. Galmed Pharmaceuticals has a 52-week low of $3.61 and a 52-week high of $27.06.

Large investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new stake in Galmed Pharmaceuticals during the second quarter worth about $7,449,000. FNY Investment Advisers LLC purchased a new stake in Galmed Pharmaceuticals during the second quarter worth about $333,000. DAFNA Capital Management LLC purchased a new stake in Galmed Pharmaceuticals during the second quarter worth about $595,000. Millennium Management LLC increased its stake in Galmed Pharmaceuticals by 1,768.2% during the second quarter. Millennium Management LLC now owns 315,356 shares of the biopharmaceutical company’s stock worth $3,753,000 after purchasing an additional 298,476 shares during the period. Finally, Baker BROS. Advisors LP purchased a new stake in Galmed Pharmaceuticals during the second quarter worth about $7,570,000. Institutional investors own 54.44% of the company’s stock.

Several analysts recently issued reports on the stock. ValuEngine lowered shares of Galmed Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 27th. Cantor Fitzgerald assumed coverage on shares of Galmed Pharmaceuticals in a report on Wednesday, July 11th. They issued a “buy” rating and a $59.00 price objective on the stock. Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, July 11th. Stifel Nicolaus assumed coverage on shares of Galmed Pharmaceuticals in a report on Friday, July 13th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Maxim Group reduced their price objective on shares of Galmed Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.11.

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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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Earnings History for Galmed Pharmaceuticals (NASDAQ:GLMD)

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