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

StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMDGet Rating) in a report published on Monday. The firm issued a sell rating on the biopharmaceutical company’s stock.

GLMD has been the topic of a number of other reports. Canaccord Genuity Group downgraded Galmed Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, August 8th. Cantor Fitzgerald downgraded Galmed Pharmaceuticals from an overweight rating to a neutral rating in a research note on Thursday, August 4th. Finally, Maxim Group downgraded Galmed Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $5.00.

Galmed Pharmaceuticals Stock Down 6.2 %

Shares of Galmed Pharmaceuticals stock opened at $0.30 on Monday. The firm has a market cap of $7.55 million, a price-to-earnings ratio of -0.33 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.07 and a quick ratio of 4.07. Galmed Pharmaceuticals has a 52-week low of $0.30 and a 52-week high of $2.73. The stock has a 50-day simple moving average of $0.36 and a 200-day simple moving average of $0.46.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. bought a new position in Galmed Pharmaceuticals in the 1st quarter worth approximately $42,000. Millennium Management LLC increased its position in Galmed Pharmaceuticals by 372.3% in the 2nd quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 40,003 shares during the period. Western Wealth Management LLC bought a new position in Galmed Pharmaceuticals in the 2nd quarter worth approximately $38,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in Galmed Pharmaceuticals by 158.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 63,310 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 38,856 shares during the period. 10.04% of the stock is owned by institutional investors.

About Galmed Pharmaceuticals

(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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Analyst Recommendations for Galmed Pharmaceuticals (NASDAQ:GLMD)

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