Galmed Pharmaceuticals’ (GLMD) Buy Rating Reaffirmed at Seaport Global Securities

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)‘s stock had its “buy” rating reaffirmed by equities research analysts at Seaport Global Securities in a report released on Friday, Marketbeat.com reports. They presently have a $19.00 target price on the biopharmaceutical company’s stock. Seaport Global Securities’ price objective suggests a potential upside of 113.48% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. HC Wainwright increased their price target on shares of Galmed Pharmaceuticals from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. ValuEngine upgraded shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Maxim Group reiterated a “buy” rating and set a $14.00 price target (up previously from $9.00) on shares of Galmed Pharmaceuticals in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $14.75.

Galmed Pharmaceuticals (NASDAQ GLMD) opened at 8.90 on Friday. The company’s 50 day moving average is $8.31 and its 200 day moving average is $6.49. Galmed Pharmaceuticals has a one year low of $2.78 and a one year high of $9.59. The stock’s market cap is $108.75 million.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.11. The firm had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.29 million. Galmed Pharmaceuticals had a negative net margin of 1,443.98% and a negative return on equity of 141.13%. On average, equities research analysts expect that Galmed Pharmaceuticals will post ($0.94) EPS for the current year.

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A number of other analysts have also recently weighed in on the stock. HC Wainwright increased their price target on shares of Galmed Pharmaceuticals from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. ValuEngine upgraded shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Maxim Group reiterated a “buy” rating and set a $14.00 price target (up previously from $9.00) on shares of Galmed Pharmaceuticals in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $14.75.

Galmed Pharmaceuticals (NASDAQ GLMD) opened at 8.90 on Friday. The company’s 50 day moving average is $8.31 and its 200 day moving average is $6.49. Galmed Pharmaceuticals has a one year low of $2.78 and a one year high of $9.59. The stock’s market cap is $108.75 million.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.11. The firm had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.29 million. Galmed Pharmaceuticals had a negative net margin of 1,443.98% and a negative return on equity of 141.13%. On average, equities research analysts expect that Galmed Pharmaceuticals will post ($0.94) EPS for the current year.

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A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. KCG Holdings Inc. acquired a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned about 0.17% of Galmed Pharmaceuticals as of its most recent filing with the SEC. 8.32% of the stock is currently owned by institutional investors and hedge funds.

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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