Equities research analysts predict that Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) will report $300,000.00 in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Galmed Pharmaceuticals’ earnings. Galmed Pharmaceuticals posted sales of $270,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that Galmed Pharmaceuticals will report full year sales of $730,000.00 for the current year, with estimates ranging from $540,000.00 to $1.14 million. For the next fiscal year, analysts expect that the firm will report sales of $600,000.00 per share. Zacks’ sales calculations are an average based on a survey of research firms that cover Galmed Pharmaceuticals.
Galmed Pharmaceuticals (NASDAQ:GLMD) last issued its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Galmed Pharmaceuticals had a negative net margin of 1,072.44% and a negative return on equity of 36.66%. The firm had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.27 million.
A number of analysts recently commented on GLMD shares. Cantor Fitzgerald assumed coverage on Galmed Pharmaceuticals in a research report on Wednesday, July 11th. They issued a “buy” rating and a $59.00 target price for the company. ValuEngine raised Galmed Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 12th. Maxim Group decreased their price objective on Galmed Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Zacks Investment Research lowered Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, SunTrust Banks boosted their price objective on Galmed Pharmaceuticals from $15.00 to $31.00 in a report on Tuesday, June 12th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $34.40.
A number of institutional investors and hedge funds have recently modified their holdings of GLMD. Deutsche Bank AG bought a new stake in Galmed Pharmaceuticals during the 4th quarter worth approximately $246,000. UBS Group AG boosted its stake in shares of Galmed Pharmaceuticals by 5,334.8% in the 1st quarter. UBS Group AG now owns 40,000 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 39,264 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Galmed Pharmaceuticals in the 1st quarter worth approximately $107,000. Park West Asset Management LLC boosted its stake in shares of Galmed Pharmaceuticals by 24.2% in the 1st quarter. Park West Asset Management LLC now owns 363,700 shares of the biopharmaceutical company’s stock worth $2,026,000 after buying an additional 70,853 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Galmed Pharmaceuticals in the 2nd quarter worth approximately $333,000. 55.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Galmed Pharmaceuticals stock opened at $13.00 on Friday. Galmed Pharmaceuticals has a one year low of $3.61 and a one year high of $27.06.
About Galmed Pharmaceuticals
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 in ARREST study, a 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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