Galmed Pharmaceuticals Ltd. (GLMD) Downgraded to Hold at Zacks Investment Research
Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. It is focused on developing therapies for liver diseases and gallstones. Galmed Pharmaceuticals Ltd. is based in Tel Aviv, Israel. “
Other analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating on shares of Galmed Pharmaceuticals in a research note on Monday, November 7th. FBR & Co set a $20.00 price objective on Galmed Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Maxim Group reissued a “buy” rating and set a $9.00 price objective (down from $24.00) on shares of Galmed Pharmaceuticals in a research report on Monday, August 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $12.20.
Galmed Pharmaceuticals (NASDAQ:GLMD) traded up 0.82% during trading on Wednesday, reaching $3.69. 31,844 shares of the company’s stock were exchanged. The stock’s market capitalization is $40.97 million. Galmed Pharmaceuticals has a 52 week low of $2.78 and a 52 week high of $9.70. The stock has a 50-day moving average of $3.89 and a 200-day moving average of $4.27.
Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.05. On average, equities research analysts anticipate that Galmed Pharmaceuticals will post ($1.39) EPS for the current year.
A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. P.A.W. Capital Corp purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 60,000 shares of the biopharmaceutical company’s stock, valued at approximately $266,000. P.A.W. Capital Corp owned 0.54% of Galmed Pharmaceuticals as of its most recent SEC filing. 5.52% of the stock is currently owned by hedge funds and other institutional investors.
About Galmed Pharmaceuticals
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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