Galmed Pharmaceuticals’ (GLMD) Buy Rating Reiterated at Maxim Group

Maxim Group reiterated their buy rating on shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in a report released on Thursday morning. 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.”,” Maxim Group’s analyst commented.

Several other brokerages have also issued reports on GLMD. HC Wainwright raised their price target on shares of Galmed Pharmaceuticals from $12.00 to $18.00 and gave the stock a buy rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating and set a $8.00 price target for the company in a research note on Wednesday, August 2nd. Finally, Seaport Global Securities restated a buy rating and set a $19.00 price target on shares of Galmed Pharmaceuticals in a research note 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’s stock. The company currently has a consensus rating of Buy and a consensus target price of $14.75.

Galmed Pharmaceuticals (NASDAQ:GLMD) traded down $0.07 during trading hours on Thursday, reaching $6.78. 19,700 shares of the company’s stock traded hands, compared to its average volume of 34,152. Galmed Pharmaceuticals has a 52-week low of $3.04 and a 52-week high of $9.59.

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An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. GRT Capital Partners L.L.C. acquired a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 as of its most recent filing with the Securities and Exchange Commission. 8.25% of the stock is owned by institutional investors and hedge funds.

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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