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

StockNews.com initiated coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Separately, Maxim Group upgraded shares of Galmed Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, July 24th.

Galmed Pharmaceuticals Trading Down 1.5 %

Shares of NASDAQ GLMD opened at $0.74 on Wednesday. The firm’s 50-day moving average price is $1.06 and its 200-day moving average price is $3.64. The stock has a market capitalization of $1.24 million, a price-to-earnings ratio of -0.11 and a beta of 0.94. Galmed Pharmaceuticals has a 12-month low of $0.74 and a 12-month high of $14.18.

Institutional Trading of Galmed Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Galmed Pharmaceuticals in the 1st quarter worth about $42,000. Raymond James Financial Services Advisors Inc. raised 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 worth $101,000 after purchasing an additional 38,856 shares during the period. Finally, Millennium Management LLC raised its position in Galmed Pharmaceuticals by 372.3% in the 2nd quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 40,003 shares during the period. 20.89% of the stock is owned by hedge funds and other institutional investors.

Galmed Pharmaceuticals Company Profile

Galmed Pharmaceuticals Ltd., a 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.