Shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) saw unusually-high trading volume on Monday . Approximately 902,606 shares were traded during trading, an increase of 921% from the previous session’s volume of 88,409 shares.The stock last traded at $5.82 and had previously closed at $4.50.
A number of equities analysts have recently issued reports on the company. ValuEngine upgraded Galmed Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating on shares of Galmed Pharmaceuticals in a research note on Tuesday, August 6th. Canaccord Genuity initiated coverage on shares of Galmed Pharmaceuticals in a report on Monday. They set a “buy” rating for the company. Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Galmed Pharmaceuticals in a report on Friday, October 18th. Eight equities research analysts have rated the stock with a buy rating, Galmed Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $25.79.
The company has a market cap of $119.81 million, a PE ratio of -12.91 and a beta of 2.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 22.78 and a current ratio of 22.78. The firm’s 50 day moving average is $4.31 and its 200-day moving average is $5.36.
Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.11. On average, analysts predict that Galmed Pharmaceuticals Ltd will post -0.93 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in Galmed Pharmaceuticals by 796.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,207 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 4,626 shares during the period. Morgan Stanley boosted its holdings in shares of Galmed Pharmaceuticals by 132.1% in the second quarter. Morgan Stanley now owns 14,783 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 8,414 shares during the period. Phoenix Holdings Ltd. purchased a new position in shares of Galmed Pharmaceuticals in the third quarter worth approximately $115,000. Delek Group Ltd. increased its position in shares of Galmed Pharmaceuticals by 15.5% in the second quarter. Delek Group Ltd. now owns 24,552 shares of the biopharmaceutical company’s stock worth $176,000 after acquiring an additional 3,300 shares in the last quarter. Finally, ETF Managers Group LLC raised its holdings in shares of Galmed Pharmaceuticals by 34.7% during the second quarter. ETF Managers Group LLC now owns 45,222 shares of the biopharmaceutical company’s stock valued at $282,000 after acquiring an additional 11,649 shares during the period. Institutional investors and hedge funds own 30.11% of the company’s stock.
Galmed Pharmaceuticals Company Profile (NASDAQ:GLMD)
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 completed ARREST 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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