Analysts at Cantor Fitzgerald began coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report issued on Wednesday. The firm set a “buy” rating and a $59.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 459.24% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday. SunTrust Banks boosted their price objective on shares of Galmed Pharmaceuticals from $15.00 to $31.00 in a report on Tuesday, June 12th. ValuEngine upgraded shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Maxim Group upgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Thursday, March 15th. Finally, HC Wainwright boosted their price objective on shares of Galmed Pharmaceuticals from $24.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, June 12th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.43.

Shares of GLMD traded down $0.45 during mid-day trading on Wednesday, reaching $10.55. The company’s stock had a trading volume of 373,600 shares, compared to its average volume of 303,220. The firm has a market cap of $183.90 million, a price-to-earnings ratio of -10.77 and a beta of 2.65. Galmed Pharmaceuticals has a 52 week low of $3.61 and a 52 week high of $27.06.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings data on Wednesday, May 16th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.29 million. Galmed Pharmaceuticals had a negative net margin of 1,073.09% and a negative return on equity of 110.46%. equities research analysts forecast that Galmed Pharmaceuticals will post -0.56 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. 683 Capital Management LLC increased its stake in shares of Galmed Pharmaceuticals by 18.2% in the fourth quarter. 683 Capital Management LLC now owns 649,295 shares of the biopharmaceutical company’s stock worth $5,941,000 after buying an additional 100,000 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Galmed Pharmaceuticals in the fourth quarter worth $345,000. Meitav Dash Investments Ltd. purchased a new position in shares of Galmed Pharmaceuticals in the fourth quarter worth $4,357,000. J. Goldman & Co LP purchased a new position in shares of Galmed Pharmaceuticals in the fourth quarter worth $569,000. Finally, Park West Asset Management LLC increased its stake in shares of Galmed Pharmaceuticals by 4.4% in the fourth quarter. Park West Asset Management LLC now owns 292,847 shares of the biopharmaceutical company’s stock worth $2,679,000 after buying an additional 12,347 shares during the period. 16.77% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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