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

StockNews.com initiated coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD – Get Rating) in a note issued to investors on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on GLMD. Canaccord Genuity Group decreased their price target on shares of Galmed Pharmaceuticals from $24.00 to $5.00 in a research note on Wednesday. HC Wainwright cut shares of Galmed Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, February 1st.

Galmed Pharmaceuticals stock opened at $0.89 on Thursday. Galmed Pharmaceuticals has a 12-month low of $0.78 and a 12-month high of $4.08. The stock has a market cap of $22.20 million, a P/E ratio of -0.67 and a beta of 1.77. The company has a 50-day moving average price of $1.50 and a 200 day moving average price of $1.91. The company has a current ratio of 6.88, a quick ratio of 6.88 and a debt-to-equity ratio of 0.01.

Galmed Pharmaceuticals (NASDAQ:GLMD – Get Rating) last announced its earnings results on Monday, May 2nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.06). As a group, analysts forecast that Galmed Pharmaceuticals will post -1.37 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of GLMD. Raymond James & Associates boosted its holdings in Galmed Pharmaceuticals by 10.5% in the 3rd 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 period. Raymond James Financial Services Advisors Inc. lifted its stake in 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 purchasing an additional 4,555 shares during the last quarter. Morgan Stanley lifted its stake in 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 purchasing an additional 23,200 shares during the last quarter. Millennium Management LLC lifted its stake in Galmed Pharmaceuticals by 308.4% during the fourth quarter. Millennium Management LLC now owns 53,239 shares of the biopharmaceutical company’s stock worth $97,000 after purchasing an additional 40,203 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 purchasing an additional 7,217 shares during the last quarter. 13.37% of the stock is owned by institutional investors.

Galmed Pharmaceuticals Company Profile (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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