Galmed Pharmaceuticals (NASDAQ:GLMD) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.53 and traded as low as $1.1570. Galmed Pharmaceuticals shares last traded at $1.2050, with a volume of 194,440 shares changing hands.

Wall Street Analyst Weigh In

GLMD has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Galmed Pharmaceuticals Trading Down 2.3%

The stock’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.53. The stock has a market cap of $1.99 million, a price-to-earnings ratio of -0.52 and a beta of 0.49.

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.