Galmed Pharmaceuticals (NASDAQ:GLMD) Rating Lowered to Neutral at Cantor Fitzgerald

Galmed Pharmaceuticals (NASDAQ:GLMDGet Rating) was downgraded by equities research analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, reports.

GLMD has been the topic of several other research reports. initiated coverage on Galmed Pharmaceuticals in a report on Monday, August 1st. They set a “sell” rating on the stock. Canaccord Genuity Group cut their target price on shares of Galmed Pharmaceuticals from $24.00 to $5.00 in a research note on Wednesday, May 4th. Raymond James downgraded shares of Galmed Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 18th. Finally, HC Wainwright downgraded shares of Galmed Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd.

Galmed Pharmaceuticals Stock Down 2.0 %

Shares of NASDAQ GLMD opened at $0.44 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.26 and a current ratio of 5.26. The firm has a market cap of $11.06 million, a price-to-earnings ratio of -0.44 and a beta of 1.34. Galmed Pharmaceuticals has a 1 year low of $0.38 and a 1 year high of $3.39. The stock’s 50-day simple moving average is $0.54 and its 200-day simple moving average is $1.08.

Galmed Pharmaceuticals (NASDAQ:GLMDGet Rating) last issued its earnings results on Tuesday, May 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.09. As a group, equities analysts anticipate that Galmed Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. acquired a new position in Galmed Pharmaceuticals in the first quarter worth about $42,000. 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 worth $101,000 after purchasing an additional 38,856 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in shares of Galmed Pharmaceuticals during the second quarter worth $38,000. Institutional investors and hedge funds own 13.37% of the company’s stock.

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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