Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) released its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11, MarketWatch Earnings reports. Galmed Pharmaceuticals had a negative return on equity of 141.13% and a negative net margin of 1,443.98%. The firm had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.29 million.
Shares of Galmed Pharmaceuticals (NASDAQ:GLMD) traded down 4.75% during midday trading on Friday, hitting $7.62. The stock had a trading volume of 44,628 shares. Galmed Pharmaceuticals has a 52 week low of $2.78 and a 52 week high of $8.87. The company’s 50 day moving average is $7.25 and its 200 day moving average is $5.54. The firm’s market cap is $93.11 million.
A number of brokerages have recently issued reports on GLMD. Zacks Investment Research upgraded Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Wednesday, August 2nd. Maxim Group reiterated a “buy” rating and set a $14.00 price objective (up previously from $9.00) on shares of Galmed Pharmaceuticals in a research note on Monday, July 31st. ValuEngine upgraded Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Finally, HC Wainwright upped their price objective on Galmed Pharmaceuticals from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th.
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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) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,473 shares of the biopharmaceutical company’s stock, valued at approximately $100,000. KCG Holdings Inc. owned 0.17% of Galmed Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 7.72% 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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