Galmed Pharmaceuticals (NASDAQ:GLMD) Posts Earnings Results, Beats Expectations By $1.43 EPS

Galmed Pharmaceuticals (NASDAQ:GLMD) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $1.43, FiscalAI reports.

Galmed Pharmaceuticals Stock Up 3.2%

NASDAQ GLMD traded up $0.02 on Tuesday, hitting $0.49. The stock had a trading volume of 15,084 shares, compared to its average volume of 22,321. Galmed Pharmaceuticals has a one year low of $0.41 and a one year high of $2.68. The stock has a market cap of $2.69 million, a price-to-earnings ratio of -1.53 and a beta of 0.40. The company’s 50-day moving average is $0.64 and its two-hundred day moving average is $0.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Galmed Pharmaceuticals has an average rating of “Reduce”.

Hedge Funds Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new stake in Galmed Pharmaceuticals stock. Two Sigma Investments LP acquired a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned approximately 1.28% of Galmed Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 76.14% of the company’s stock.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for metabolic and liver diseases. The company’s principal program centers on Aramchol, a synthetic fatty acid-bile acid conjugate designed to reduce liver fat accumulation and fibrosis in patients with nonalcoholic steatohepatitis (NASH). Galmed conducts translational research to validate its mechanism of action and advance its drug candidates through regulatory trials.

In addition to Aramchol, Galmed maintains a pipeline of complementary small-molecule compounds aimed at modulating lipid metabolism and inflammatory pathways implicated in chronic liver disorders.