Galmed Pharmaceuticals (NASDAQ:GLMD) Cut 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, PriceTargets.com reports.

Several other research analysts have also recently weighed in on the company. StockNews.com began coverage on Galmed Pharmaceuticals in a research report on Monday, August 1st. They set a “sell” rating for the company. HC Wainwright lowered Galmed Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. Canaccord Genuity Group cut their price objective on Galmed Pharmaceuticals from $24.00 to $5.00 in a report on Wednesday, May 4th. Finally, Raymond James downgraded Galmed Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 18th.

Galmed Pharmaceuticals Trading Down 2.0 %

GLMD stock opened at $0.44 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.26 and a quick ratio of 5.26. The company has a market capitalization 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 business has a 50 day simple moving average of $0.54 and a two-hundred day simple moving average of $1.08.

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

Hedge Funds Weigh In On Galmed Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in Galmed Pharmaceuticals during the first quarter worth $42,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Galmed Pharmaceuticals by 158.9% during 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 last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Galmed Pharmaceuticals during the second quarter worth $38,000. 13.37% of the stock is owned by hedge funds and other institutional investors.

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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