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.

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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.

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