Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $8.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.84% from the company’s current price.
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. “
A number of other research firms also recently weighed in on GLMD. Maxim Group reissued a “buy” rating and set a $14.00 price target on shares of Galmed Pharmaceuticals in a research note on Thursday, November 9th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Galmed Pharmaceuticals in a research note on Friday. Finally, Seaport Global Securities reissued a “buy” rating and set a $19.00 price target on shares of Galmed Pharmaceuticals in a research note on Friday, October 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $14.88.
Galmed Pharmaceuticals (NASDAQ GLMD) traded up $0.82 on Tuesday, hitting $7.60. 21,400 shares of the company were exchanged, compared to its average volume of 35,256. Galmed Pharmaceuticals has a twelve month low of $3.04 and a twelve month high of $9.59.
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An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. GRT Capital Partners L.L.C. bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,314 shares of the biopharmaceutical company’s stock, valued at approximately $114,000. GRT Capital Partners L.L.C. owned approximately 0.15% of Galmed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 8.25% of the stock is currently owned by institutional investors.
Galmed Pharmaceuticals Company Profile
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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