Maxim Group set a $14.00 price objective on Galmed Pharmaceuticals (NASDAQ:GLMD) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages also recently commented on GLMD. Seaport Global Securities reaffirmed a buy rating and set a $19.00 target price on shares of Galmed Pharmaceuticals in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Galmed Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 11th. HC Wainwright reiterated a buy rating and issued a $18.00 price objective on shares of Galmed Pharmaceuticals in a research note on Friday, October 27th. ValuEngine cut shares of Galmed Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, December 1st. Finally, Roth Capital assumed coverage on shares of Galmed Pharmaceuticals in a research note on Wednesday, November 15th. They issued a buy rating and a $32.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $18.30.
Shares of Galmed Pharmaceuticals (NASDAQ GLMD) opened at $8.09 on Wednesday. Galmed Pharmaceuticals has a twelve month low of $3.04 and a twelve month high of $9.59.
Institutional investors have recently modified their holdings of the business. GRT Capital Partners L.L.C. acquired a new position in shares of Galmed Pharmaceuticals in the 2nd quarter valued at approximately $114,000. KCG Holdings Inc. acquired a new position in Galmed Pharmaceuticals during the 1st quarter worth approximately $100,000. Finally, 683 Capital Management LLC increased its position in Galmed Pharmaceuticals by 9.9% during the 3rd quarter. 683 Capital Management LLC now owns 549,295 shares of the biopharmaceutical company’s stock worth $5,021,000 after purchasing an additional 49,295 shares in the last quarter. Institutional investors and hedge funds own 9.85% 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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