Galmed Pharmaceuticals (NASDAQ:GLMD) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s stock price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $4.45 and traded as high as $4.63. Galmed Pharmaceuticals shares last traded at $4.59, with a volume of 302,067 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Galmed Pharmaceuticals currently has an average rating of “Sell”.

Galmed Pharmaceuticals Price Performance

The company has a 50 day simple moving average of $4.44 and a 200 day simple moving average of $4.67. The stock has a market cap of $4.78 million, a price-to-earnings ratio of -0.30 and a beta of 0.67.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings data on Wednesday, September 2nd. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.12) by $0.26.

About Galmed Pharmaceuticals

Galmed Pharmaceuticals Ltd. is an Israel-based biopharmaceutical company focused on developing therapies for liver, metabolic, inflammatory and fibrotic diseases. The company’s research has centered on orally administered treatments designed to address conditions in which excess fat accumulation, inflammation and tissue fibrosis contribute to disease progression.

Galmed’s principal historical product candidate is aramchol, an investigational fatty acid-bile acid conjugate developed for the treatment of nonalcoholic steatohepatitis (NASH), now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).