Galmed Pharmaceuticals (NASDAQ:GLMD) Earns Sell Rating from Analysts at StockNews.com

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

Galmed Pharmaceuticals Price Performance

Shares of GLMD stock opened at $4.96 on Wednesday. The firm has a market cap of $8.34 million, a PE ratio of -0.47 and a beta of 1.12. The company has a 50-day moving average of $5.43 and a two-hundred day moving average of $6.89. Galmed Pharmaceuticals has a 1-year low of $3.43 and a 1-year high of $14.18.

Galmed Pharmaceuticals (NASDAQ:GLMD – Get Rating) last posted its quarterly earnings data on Wednesday, March 29th. The biopharmaceutical company reported ($1.50) EPS for the quarter.

Institutional Trading of Galmed Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in shares of Galmed Pharmaceuticals by 218.4% in the 4th quarter. Millennium Management LLC now owns 149,217 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 102,351 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Galmed Pharmaceuticals by 158.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 38,856 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Galmed Pharmaceuticals in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 10.30% of the company’s stock.

Galmed Pharmaceuticals Company Profile

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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.