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

Equities researchers at StockNews.com initiated coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a report released on Saturday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Separately, Maxim Group reaffirmed a “hold” rating on shares of Galmed Pharmaceuticals in a report on Friday.

Galmed Pharmaceuticals Stock Down 8.2 %

Shares of GLMD stock opened at $1.34 on Friday. Galmed Pharmaceuticals has a twelve month low of $1.28 and a twelve month high of $23.80. The business has a fifty day simple moving average of $2.22 and a 200 day simple moving average of $3.17. The company has a market cap of $862,960.00, a P/E ratio of -0.08 and a beta of 0.70.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Schonfeld Strategic Advisors LLC purchased a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,400 shares of the biopharmaceutical company’s stock, valued at approximately $81,000. Schonfeld Strategic Advisors LLC owned about 3.97% of Galmed Pharmaceuticals at the end of the most recent quarter. 76.14% 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.