Maxim Group reaffirmed their buy rating on shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in a research report released on Thursday. Maxim Group currently has a $14.00 target price on the biopharmaceutical company’s stock.
“Galmed reported 3Q17, spending just $2.8M and closing the period with $9M in cash. Management was clear that with their efforts to preserve cash, they have runway through 2018 and through catalysts; data from both ARRIVE and ARREST studies.”,” the firm’s analyst commented.
Several other equities research analysts have also recently issued reports on the stock. HC Wainwright restated a buy rating and set a $18.00 price objective on shares of Galmed Pharmaceuticals in a research report on Friday, October 27th. Zacks Investment Research cut shares of Galmed Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, October 11th. Finally, Seaport Global Securities reiterated a buy rating and set a $19.00 price target on shares of Galmed Pharmaceuticals in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $14.75.
Galmed Pharmaceuticals (GLMD) traded down $0.07 during trading on Thursday, reaching $6.78. 19,700 shares of the company traded hands, compared to its average volume of 35,319. Galmed Pharmaceuticals has a 52-week low of $3.04 and a 52-week high of $9.59.
An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. GRT Capital Partners L.L.C. purchased a new stake in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,314 shares of the biopharmaceutical company’s stock, valued at approximately $114,000. GRT Capital Partners L.L.C. owned about 0.15% of Galmed Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.25% of the company’s stock.
Galmed Pharmaceuticals Company Profile
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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