Galmed Pharmaceuticals (NASDAQ:GLMD) Coverage Initiated at StockNews.com

Posted by on Jun 25th, 2023

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

Galmed Pharmaceuticals Price Performance

GLMD opened at $3.37 on Friday. The firm has a market cap of $5.66 million, a price-to-earnings ratio of -0.42 and a beta of 1.11. Galmed Pharmaceuticals has a 1 year low of $3.12 and a 1 year high of $14.18. The stock’s 50 day simple moving average is $4.55 and its 200 day simple moving average is $6.76.

Galmed Pharmaceuticals (NASDAQ:GLMD – Get Rating) last posted its earnings results on Thursday, June 1st. The biopharmaceutical company reported ($1.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.50) by $0.41.

Institutional Investors Weigh In On Galmed Pharmaceuticals

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 position in Galmed Pharmaceuticals during the first quarter valued at $42,000. Millennium Management LLC grew its stake in shares of 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 last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of 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.

Galmed Pharmaceuticals Company Profile

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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.

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