HC Wainwright restated their buy rating on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research report sent to investors on Tuesday, AnalystRatings.com reports.
“We maintain our Buy rating of ATEC and raise our 12-month price target to $6.00 per share, up from $4.00. We derive our price target based on: (1) an EV-to-sales multiple analysis assuming 10% discount rate and using a 3.0x multiple on projected 2027 sales of $455M; and (2) a discounted cash flow analysis using the projected free cash flow to the firm through 2027 and assuming a 10% discount rate and a 3% terminal growth rate. Using the average of the two methods, we arrive at a 12-month price target of $5.80 per share, which we round to $6.00.”,” the firm’s analyst wrote.
GLMD has been the subject of several other research reports. Maxim Group reaffirmed a buy rating and set a $20.00 target price on shares of Galmed Pharmaceuticals in a report on Tuesday, May 7th. ValuEngine raised shares of Galmed Pharmaceuticals from a sell rating to a hold rating in a report on Friday, June 28th. Finally, Laidlaw started coverage on shares of Galmed Pharmaceuticals in a report on Monday, July 22nd. They set a buy rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Galmed Pharmaceuticals has a consensus rating of Buy and an average price target of $28.17.
Galmed Pharmaceuticals (NASDAQ:GLMD) last announced its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. Sell-side analysts forecast that Galmed Pharmaceuticals will post -1.08 EPS for the current year.
A number of institutional investors have recently modified their holdings of GLMD. Ibex Investors LLC raised its stake in Galmed Pharmaceuticals by 31.9% in the 1st quarter. Ibex Investors LLC now owns 659,526 shares of the biopharmaceutical company’s stock worth $5,388,000 after purchasing an additional 159,526 shares in the last quarter. Premier Asset Management LLC acquired a new stake in Galmed Pharmaceuticals in the 2nd quarter worth about $572,000. Deutsche Bank AG acquired a new stake in Galmed Pharmaceuticals in the 4th quarter worth about $229,000. Delek Group Ltd. acquired a new stake in Galmed Pharmaceuticals in the 1st quarter worth about $173,000. Finally, ARK Investment Management LLC raised its stake in Galmed Pharmaceuticals by 31.6% in the 1st quarter. ARK Investment Management LLC now owns 53,749 shares of the biopharmaceutical company’s stock worth $439,000 after purchasing an additional 12,905 shares in the last quarter. Institutional investors and hedge funds own 36.22% of the company’s stock.
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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