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.
COPYRIGHT VIOLATION WARNING: “Galmed Pharmaceuticals (GLMD) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/11/06/galmed-pharmaceuticals-glmd-releases-quarterly-earnings-results-beats-estimates-by-0-09-eps.html.
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.
Read More: How Do You Make Money With Penny Stocks?
Receive News & Ratings for Galmed Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galmed Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.