StockNews.com initiated coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD – Get Rating) in a note issued to investors on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.
Several other equities analysts also recently issued reports on GLMD. Cantor Fitzgerald downgraded shares of Galmed Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 4th. Maxim Group downgraded shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Canaccord Genuity Group downgraded shares of Galmed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.00.
Galmed Pharmaceuticals Stock Down 5.3 %
Shares of NASDAQ GLMD opened at $0.44 on Friday. Galmed Pharmaceuticals has a 12-month low of $0.37 and a 12-month high of $3.13. The company has a market capitalization of $10.93 million, a PE ratio of -0.44 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.48 and a quick ratio of 8.48. The firm’s 50-day moving average is $0.49 and its two-hundred day moving average is $0.84.
Hedge Funds Weigh In On Galmed Pharmaceuticals
Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its holdings in Galmed Pharmaceuticals by 158.9% in the first 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 period. Western Wealth Management LLC purchased a new position in shares of Galmed Pharmaceuticals in the 2nd quarter valued at $38,000. Millennium Management LLC lifted its holdings in shares of Galmed Pharmaceuticals by 372.3% during the 2nd quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 40,003 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Galmed Pharmaceuticals during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 10.04% of the company’s stock.
About Galmed Pharmaceuticals
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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