Galmed Pharmaceuticals (NASDAQ:GLMD) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Galmed Pharmaceuticals (NASDAQ:GLMD) in a research note issued on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Galmed Pharmaceuticals Price Performance

Shares of NASDAQ GLMD opened at $0.33 on Friday. The firm’s 50 day simple moving average is $0.36 and its 200-day simple moving average is $0.41. Galmed Pharmaceuticals has a 12 month low of $0.26 and a 12 month high of $7.80. The stock has a market capitalization of $546,504.00, a price-to-earnings ratio of -0.09 and a beta of 0.87.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in GLMD. Millennium Management LLC lifted its holdings in Galmed Pharmaceuticals by 372.3% in the 2nd quarter. Millennium Management LLC now owns 50,748 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 40,003 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Galmed Pharmaceuticals in the 1st quarter valued at $42,000. Raymond James Financial Services Advisors Inc. lifted its holdings 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 valued at $101,000 after purchasing an additional 38,856 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Galmed Pharmaceuticals in the 3rd quarter valued at $155,000. Institutional investors and hedge funds own 76.14% of the company’s stock.

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.