Cantor Fitzgerald reissued their buy rating on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research note released on Tuesday morning. Cantor Fitzgerald currently has a $59.00 price target on the biopharmaceutical company’s stock.
“: We reiterate our OW rating and $59 12-month PT on Galmed Pharmaceuticals. This morning, NASH competitor Intercept Pharmaceuticals (ICPT – OW by A. Young) announced Phase 3 results from the REGENERATE study. Ocaliva (OCA) showed a statistically significant improvement in fibrosis improvement (>/=1 stage) with no worsening of NASH in the 25mg arm vs. placebo (p=0.0002). A statistically significant improvement was not observed in NASH resolution with no worsening of liver fibrosis stage. Based off the results, Intercept could file for regulatory approval in the U.S. and EU during 2H19.”,” Cantor Fitzgerald’s analyst commented.
A number of other equities research analysts have also weighed in on the company. Maxim Group set a $20.00 price objective on Galmed Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, November 13th. B. Riley initiated coverage on Galmed Pharmaceuticals in a research report on Tuesday, December 11th. They set a buy rating and a $28.00 price objective on the stock. ValuEngine lowered Galmed Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Saturday, October 27th. HC Wainwright reduced their price objective on Galmed Pharmaceuticals to $28.00 and set a buy rating on the stock in a research report on Monday, January 14th. Finally, Zacks Investment Research lowered Galmed Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, January 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $32.69.
Shares of GLMD stock opened at $7.61 on Tuesday. The firm has a market cap of $121.08 million, a P/E ratio of -7.77 and a beta of 2.70. Galmed Pharmaceuticals has a twelve month low of $4.79 and a twelve month high of $27.06.
A number of institutional investors and hedge funds have recently made changes to their positions in GLMD. First Midwest Bank Trust Division lifted its holdings in Galmed Pharmaceuticals by 802.4% during the 4th quarter. First Midwest Bank Trust Division now owns 214,872 shares of the biopharmaceutical company’s stock worth $1,468,000 after buying an additional 191,061 shares during the period. Ibex Investors LLC lifted its holdings in Galmed Pharmaceuticals by 19.6% during the 4th quarter. Ibex Investors LLC now owns 500,000 shares of the biopharmaceutical company’s stock worth $3,415,000 after buying an additional 82,000 shares during the period. Premier Asset Management LLC acquired a new position in shares of Galmed Pharmaceuticals in the 4th quarter valued at about $505,000. Vivo Capital LLC lifted its stake in shares of Galmed Pharmaceuticals by 7.4% in the 3rd quarter. Vivo Capital LLC now owns 851,492 shares of the biopharmaceutical company’s stock valued at $11,563,000 after purchasing an additional 58,785 shares during the period. Finally, ARK Investment Management LLC acquired a new position in shares of Galmed Pharmaceuticals in the 3rd quarter valued at about $487,000. 49.79% of the stock is currently owned by hedge funds and other institutional investors.
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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