Galmed Pharmaceuticals Ltd. Expected to Post FY2022 Earnings of ($1.16) Per Share (NASDAQ:GLMD)

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMDGet Rating) – Equities research analysts at Cantor Fitzgerald upped their FY2022 EPS estimates for Galmed Pharmaceuticals in a research note issued on Tuesday, May 3rd. Cantor Fitzgerald analyst K. Kluska now anticipates that the biopharmaceutical company will earn ($1.16) per share for the year, up from their prior forecast of ($1.32).

Galmed Pharmaceuticals (NASDAQ:GLMDGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.06).

Several other analysts have also commented on GLMD. HC Wainwright lowered Galmed Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group reduced their price objective on Galmed Pharmaceuticals from $24.00 to $5.00 in a research note on Wednesday. StockNews.com initiated coverage on Galmed Pharmaceuticals in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Zacks Investment Research raised Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, February 1st.

Shares of GLMD stock opened at $0.85 on Friday. The stock’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.89. The company has a quick ratio of 6.88, a current ratio of 6.88 and a debt-to-equity ratio of 0.01. Galmed Pharmaceuticals has a one year low of $0.78 and a one year high of $4.08.

Several hedge funds have recently added to or reduced their stakes in GLMD. Morgan Stanley raised its position in shares of Galmed Pharmaceuticals by 14.3% during the first quarter. Morgan Stanley now owns 185,552 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 23,200 shares during the last quarter. Raymond James & Associates raised its position in shares of Galmed Pharmaceuticals by 10.5% during the third quarter. Raymond James & Associates now owns 229,640 shares of the biopharmaceutical company’s stock worth $641,000 after acquiring an additional 21,775 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Galmed Pharmaceuticals by 27.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,304 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 4,555 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Galmed Pharmaceuticals by 36.2% during the third quarter. Geode Capital Management LLC now owns 27,177 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 7,217 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Galmed Pharmaceuticals in the third quarter valued at about $36,000. Institutional investors own 13.37% of the company’s stock.

About Galmed Pharmaceuticals (Get Rating)

Galmed Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of liver diseases. It develops Aramchol, an oral therapy, which is in Phase III study for the treatment of non-alcoholic steato-hepatitis (NASH) in patients with overweight or obesity and who are pre-diabetic or type-II-diabetes mellitus.

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Earnings History and Estimates for Galmed Pharmaceuticals (NASDAQ:GLMD)

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