Galmed Pharmaceuticals (GLMD) Given a $14.00 Price Target by Maxim Group Analysts

Maxim Group set a $14.00 price objective on Galmed Pharmaceuticals (NASDAQ:GLMD) in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

GLMD has been the subject of a number of other reports. HC Wainwright restated a buy rating and set a $18.00 price target on shares of Galmed Pharmaceuticals in a research report on Friday, October 27th. Seaport Global Securities reiterated a buy rating and issued a $19.00 target price on shares of Galmed Pharmaceuticals in a research report on Friday, October 6th. Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating and set a $8.50 target price for the company in a research report on Tuesday, November 14th. Roth Capital initiated coverage on shares of Galmed Pharmaceuticals in a research report on Wednesday, November 15th. They issued a buy rating and a $32.00 target price for the company. Finally, ValuEngine lowered shares of Galmed Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $18.30.

Shares of Galmed Pharmaceuticals (NASDAQ GLMD) traded down $0.30 during mid-day trading on Wednesday, reaching $9.78. 46,800 shares of the company’s stock were exchanged, compared to its average volume of 76,433. Galmed Pharmaceuticals has a 1-year low of $3.58 and a 1-year high of $10.70. The company has a market cap of $127.72, a PE ratio of -8.02 and a beta of 2.46.

An institutional investor recently raised its position in Galmed Pharmaceuticals stock. 683 Capital Management LLC increased its stake in Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,295 shares of the biopharmaceutical company’s stock after buying an additional 49,295 shares during the period. 683 Capital Management LLC owned 4.31% of Galmed Pharmaceuticals worth $5,021,000 at the end of the most recent reporting period. 9.85% of the stock is owned by hedge funds and other institutional investors.

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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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