Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) shares traded up 7.3% during trading on Thursday . The stock traded as high as $4.90 and last traded at $4.87, 147,142 shares were traded during mid-day trading. An increase of 63% from the average session volume of 90,335 shares. The stock had previously closed at $4.54.

Several research analysts recently commented on the company. Canaccord Genuity reiterated a “buy” rating on shares of Galmed Pharmaceuticals in a research report on Friday, May 15th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of Galmed Pharmaceuticals in a research report on Sunday, July 12th. Raymond James dropped their target price on Galmed Pharmaceuticals from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Maxim Group initiated coverage on Galmed Pharmaceuticals in a research report on Friday, May 15th. They set a “buy” rating and a $10.00 target price for the company. Finally, Zacks Investment Research lowered Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.03.

The company’s fifty day simple moving average is $4.89 and its 200-day simple moving average is $4.90. The firm has a market capitalization of $102.38 million, a PE ratio of -4.45 and a beta of 2.51.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.08. On average, sell-side analysts expect that Galmed Pharmaceuticals Ltd will post -1.28 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC grew its holdings in shares of Galmed Pharmaceuticals by 9.8% during the first quarter. ETF Managers Group LLC now owns 41,548 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 3,692 shares during the last quarter. Voss Capital LLC grew its holdings in shares of Galmed Pharmaceuticals by 5.9% during the first quarter. Voss Capital LLC now owns 159,454 shares of the biopharmaceutical company’s stock valued at $319,000 after buying an additional 8,939 shares during the last quarter. Ibex Investors LLC grew its holdings in shares of Galmed Pharmaceuticals by 1.0% during the first quarter. Ibex Investors LLC now owns 965,000 shares of the biopharmaceutical company’s stock valued at $3,339,000 after buying an additional 9,532 shares during the last quarter. Morgan Stanley grew its holdings in shares of Galmed Pharmaceuticals by 24.6% during the first quarter. Morgan Stanley now owns 77,552 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 15,322 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in Galmed Pharmaceuticals in the first quarter valued at $57,000. 33.85% of the stock is currently owned by hedge funds and other institutional investors.

About Galmed Pharmaceuticals (NASDAQ:GLMD)

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 completed ARREST 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.

See Also: Return on Equity (ROE)

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