Galmed Pharmaceuticals Ltd (GLMD) Receives $35.75 Consensus Target Price from Analysts

Shares of Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) have earned a consensus recommendation of “Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $32.69.

A number of analysts recently issued reports on GLMD shares. ValuEngine upgraded shares of Galmed Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 6th. Cantor Fitzgerald set a $59.00 price objective on shares of Galmed Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, November 5th. Zacks Investment Research downgraded shares of Galmed Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 16th. HC Wainwright decreased their price objective on shares of Galmed Pharmaceuticals to $28.00 and set a “buy” rating for the company in a report on Monday, January 14th. Finally, B. Riley started coverage on shares of Galmed Pharmaceuticals in a report on Tuesday, December 11th. They set a “buy” rating and a $28.00 price objective for the company.

Shares of GLMD stock opened at $7.34 on Friday. Galmed Pharmaceuticals has a one year low of $3.61 and a one year high of $27.06. The stock has a market capitalization of $116.76 million, a PE ratio of -7.49 and a beta of 2.70.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vivo Capital LLC boosted its position in Galmed Pharmaceuticals by 7.4% during the third 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 period. Ibex Investors LLC boosted its position in Galmed Pharmaceuticals by 23.3% during the third 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 period. Millennium Management LLC boosted its position in Galmed Pharmaceuticals by 1,768.2% during the second quarter. Millennium Management LLC now owns 315,356 shares of the biopharmaceutical company’s stock worth $3,753,000 after purchasing an additional 298,476 shares during the period. First Midwest Bank Trust Division boosted its position in Galmed Pharmaceuticals by 802.4% during the fourth 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 period. Finally, ARK Investment Management LLC bought a new position in Galmed Pharmaceuticals during the third quarter worth about $487,000. Institutional investors and hedge funds own 49.08% of the company’s stock.

About Galmed Pharmaceuticals

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.

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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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