Cantor Fitzgerald Reaffirms Overweight Rating for Galmed Pharmaceuticals (NASDAQ:GLMD)

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Cantor Fitzgerald reiterated their overweight rating on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report published on Sunday, AnalystRatings.com reports. They currently have a $14.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on the stock. HC Wainwright dropped their price objective on shares of Galmed Pharmaceuticals from $34.00 to $29.00 and set a buy rating on the stock in a research note on Friday, May 15th. Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a hold rating to a strong-buy rating and set a $5.75 price objective on the stock in a research note on Tuesday, May 19th. Raymond James dropped their price objective on shares of Galmed Pharmaceuticals from $25.00 to $20.00 and set an outperform rating on the stock in a research note on Friday, May 15th. B. Riley lowered shares of Galmed Pharmaceuticals from a buy rating to a neutral rating and dropped their price objective for the company from $11.00 to $8.00 in a research note on Friday, May 22nd. Finally, Maxim Group initiated coverage on shares of Galmed Pharmaceuticals in a research note on Friday, May 15th. They set a buy rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $18.78.

GLMD stock opened at $4.72 on Friday. Galmed Pharmaceuticals has a 52-week low of $3.02 and a 52-week high of $7.38. The company’s 50 day simple moving average is $4.99 and its 200-day simple moving average is $5.01. The firm has a market capitalization of $94.57 million, a P/E ratio of -4.33 and a beta of 2.51.

Galmed Pharmaceuticals (NASDAQ:GLMD) last released its quarterly earnings results on Thursday, May 14th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.08. Equities research analysts predict that Galmed Pharmaceuticals will post -1.28 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC bought a new stake in shares of Galmed Pharmaceuticals during the 1st quarter worth $57,000. Squarepoint Ops LLC boosted its holdings in Galmed Pharmaceuticals by 238.9% in the 1st quarter. Squarepoint Ops LLC now owns 34,350 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 24,215 shares during the period. ETF Managers Group LLC boosted its holdings in Galmed Pharmaceuticals by 9.8% in the 1st quarter. ETF Managers Group LLC now owns 41,548 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 3,692 shares during the period. Phoenix Holdings Ltd. boosted its holdings in Galmed Pharmaceuticals by 312.9% in the 1st quarter. Phoenix Holdings Ltd. now owns 75,383 shares of the biopharmaceutical company’s stock valued at $253,000 after purchasing an additional 57,128 shares during the period. Finally, Morgan Stanley boosted its holdings in Galmed Pharmaceuticals by 24.6% in the 1st quarter. Morgan Stanley now owns 77,552 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 15,322 shares during the period. 33.85% of the stock is owned by institutional investors and hedge funds.

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 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.

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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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