Galmed Pharmaceuticals Ltd. (GLMD) Downgraded by 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 report issued to clients and investors on Friday.
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. “
Several other equities research analysts have also recently weighed in on GLMD. 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 note on Monday, August 1st. FBR & Co set a $20.00 price objective on Galmed Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, HC Wainwright reissued a “buy” rating on shares of Galmed Pharmaceuticals in a research note on Monday, November 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Galmed Pharmaceuticals has a consensus rating of “Buy” and an average target price of $12.20.
Galmed Pharmaceuticals (NASDAQ:GLMD) traded up 3.3030% on Friday, reaching $3.7499. The company had a trading volume of 32,476 shares. Galmed Pharmaceuticals has a 52 week low of $2.78 and a 52 week high of $9.70. The stock’s 50-day moving average is $3.69 and its 200-day moving average is $4.20. The company’s market capitalization is $45.56 million.
Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.05. Equities research analysts forecast that Galmed Pharmaceuticals will post ($1.39) EPS for the current fiscal year.
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A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. P.A.W. Capital Corp bought a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the biopharmaceutical company’s stock, valued at approximately $266,000. P.A.W. Capital Corp owned about 0.54% of Galmed Pharmaceuticals as of its most recent filing with the SEC. Institutional investors own 5.05% of the company’s stock.
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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