Galmed Pharmaceuticals Ltd. (GLMD) Given “Buy” Rating at Maxim Group
Maxim Group reiterated their buy rating on shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in a research report released on Thursday. The brokerage currently has a $14.00 price objective on the biopharmaceutical company’s stock.
“Galmed reported 3Q17, spending just $2.8M and closing the period with $9M in cash. Management was clear that with their efforts to preserve cash, they have runway through 2018 and through catalysts; data from both ARRIVE and ARREST studies.”,” the firm’s analyst commented.
Other equities analysts also recently issued research reports about the stock. Seaport Global Securities reaffirmed a buy rating and set a $19.00 price target on shares of Galmed Pharmaceuticals in a research note on Friday, October 6th. HC Wainwright raised their price target on shares of Galmed Pharmaceuticals from $12.00 to $18.00 and gave the company a buy rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of Galmed Pharmaceuticals from a hold rating to a buy rating and set a $8.00 price target for the company in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $14.75.
Shares of Galmed Pharmaceuticals (GLMD) traded down $0.07 during trading hours on Thursday, reaching $6.78. 19,700 shares of the company traded hands, compared to its average volume of 34,152. Galmed Pharmaceuticals has a fifty-two week low of $3.04 and a fifty-two week high of $9.59.
TRADEMARK VIOLATION WARNING: “Galmed Pharmaceuticals Ltd. (GLMD) Given “Buy” Rating at Maxim Group” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/11/12/galmed-pharmaceuticals-ltd-glmd-given-buy-rating-at-maxim-group.html.
A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. GRT Capital Partners L.L.C. purchased a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,314 shares of the biopharmaceutical company’s stock, valued at approximately $114,000. GRT Capital Partners L.L.C. owned about 0.15% of Galmed Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.25% 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.
Receive News & Stock Ratings for Galmed Pharmaceuticals Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galmed Pharmaceuticals Ltd. and related stocks with our FREE daily email newsletter.