StockNews.com Initiates Coverage on Galmed Pharmaceuticals (NASDAQ:GLMD)

Research analysts at StockNews.com started coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD – Get Rating) in a research note issued on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Trading Up 4.6 %

Shares of GLMD stock opened at $0.52 on Friday. Galmed Pharmaceuticals has a 1-year low of $0.29 and a 1-year high of $1.84. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $0.65 and a 200-day moving average of $0.47. The stock has a market cap of $13.05 million, a price-to-earnings ratio of -0.58 and a beta of 1.11.

Institutional Trading of Galmed Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of GLMD. Millennium Management LLC boosted its stake in Galmed Pharmaceuticals by 372.3% during the second quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 40,003 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in Galmed Pharmaceuticals during the first quarter worth about $42,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Galmed Pharmaceuticals by 158.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 38,856 shares during the last quarter. 10.30% of the stock is owned by hedge funds and other institutional investors.

About Galmed Pharmaceuticals

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Galmed Pharmaceuticals Ltd. is a clinical-stage drug development biopharmaceutical company, which engages in the development of oral therapy for the treatment of non-alcoholic steato-hepatitis (NASH). Its product candidate, Aramchol, is a synthetic fatty acid-bile acid conjugate molecule for the oral treatment of NASH in patients who are overweight or obese and have prediabetes or type II diabetes mellitus.