Galmed Pharmaceuticals Ltd. (GLMD) Reaches New 1-Year High at $7.40

Shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) hit a new 52-week high during trading on Monday . The stock traded as high as $7.40 and last traded at $7.42, with a volume of 114,367 shares trading hands. The stock had previously closed at $6.69.

Several analysts have commented on the company. Zacks Investment Research upgraded Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, August 2nd. Maxim Group reiterated a “buy” rating and set a $14.00 target price (up 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 increased their target price on Galmed Pharmaceuticals from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th.

The stock’s market cap is $93.11 million. The stock has a 50-day moving average price of $7.25 and a 200-day moving average price of $5.54.

Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its quarterly earnings results on Monday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. The business had revenue of $0.27 million for the quarter, compared to the consensus estimate of $0.29 million. Galmed Pharmaceuticals had a negative return on equity of 141.13% and a negative net margin of 1,443.98%. Analysts predict that Galmed Pharmaceuticals Ltd. will post ($0.94) earnings per share for the current year.

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. KCG Holdings Inc. bought a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 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 reporting period. Institutional investors own 7.72% of the company’s stock.

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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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