Galmed Pharmaceuticals (NASDAQ:GLMD) Announces Quarterly Earnings Results

Galmed Pharmaceuticals (NASDAQ:GLMD) posted its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.33) EPS for the quarter, Zacks reports.

Galmed Pharmaceuticals Trading Up 1.7%

Shares of GLMD stock opened at $0.84 on Wednesday. Galmed Pharmaceuticals has a twelve month low of $0.74 and a twelve month high of $3.61. The firm has a fifty day simple moving average of $1.32 and a 200-day simple moving average of $1.50. The company has a market capitalization of $1.38 million, a PE ratio of -0.36 and a beta of 0.49.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Two Sigma Investments LP bought a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned about 1.28% of Galmed Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 76.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GLMD. Weiss Ratings reissued a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Galmed Pharmaceuticals currently has a consensus rating of “Reduce”.

About Galmed Pharmaceuticals

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.