Zacks Investment Research upgraded shares of Galmed Pharmaceuticals (NASDAQ:GLMD) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $9.00 price target on the biopharmaceutical company’s stock.
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. “
Other research analysts also recently issued research reports about the stock. Maxim Group set a $20.00 price objective on shares of Galmed Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, November 13th. B. Riley assumed coverage on shares of Galmed Pharmaceuticals in a research report on Tuesday, December 11th. They issued a buy rating and a $28.00 price objective for the company. ValuEngine downgraded shares of Galmed Pharmaceuticals from a buy rating to a hold rating in a research report on Monday, November 26th. HC Wainwright decreased their price objective on shares of Galmed Pharmaceuticals to $28.00 and set a buy rating for the company in a research report on Monday, January 14th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $59.00 price objective on shares of Galmed Pharmaceuticals in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $32.78.
Shares of Galmed Pharmaceuticals stock opened at $8.41 on Wednesday. The stock has a market capitalization of $131.08 million, a price-to-earnings ratio of -8.58 and a beta of 2.70. Galmed Pharmaceuticals has a fifty-two week low of $4.84 and a fifty-two week high of $27.06.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC raised its position in shares of Galmed Pharmaceuticals by 7.4% during the 3rd quarter. Vivo Capital LLC now owns 851,492 shares of the biopharmaceutical company’s stock worth $11,563,000 after purchasing an additional 58,785 shares during the last quarter. Ibex Investors LLC raised its position in shares of Galmed Pharmaceuticals by 23.3% during the 3rd quarter. Ibex Investors LLC now owns 418,000 shares of the biopharmaceutical company’s stock worth $5,676,000 after purchasing an additional 79,000 shares during the last quarter. Trellus Management Company LLC acquired a new position in shares of Galmed Pharmaceuticals during the 3rd quarter worth about $227,000. Wells Fargo & Company MN acquired a new position in shares of Galmed Pharmaceuticals during the 3rd quarter worth about $297,000. Finally, First Midwest Bank Trust Division raised its position in shares of Galmed Pharmaceuticals by 802.4% during the 4th quarter. First Midwest Bank Trust Division now owns 214,872 shares of the biopharmaceutical company’s stock worth $1,468,000 after purchasing an additional 191,061 shares during the last quarter. Hedge funds and other institutional investors own 49.79% of the company’s stock.
Galmed Pharmaceuticals Company Profile
Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. The company is develops Aramchol, an oral therapy, which is in ARREST study, a Phase IIb clinical study for the treatment of patients with overweight or obesity, and who are pre-diabetic or type-II-diabetic with non-alcoholic steato-hepatitis.
Featured Story: How do candlesticks reflect price movement?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Galmed Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galmed Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.