Galmed Pharmaceuticals (NASDAQ:GLMD) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Galmed Pharmaceuticals (NASDAQ:GLMDGet Rating) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.08, MarketWatch Earnings reports.

Shares of NASDAQ:GLMD opened at $0.54 on Thursday. The stock has a 50 day moving average of $1.34 and a 200 day moving average of $1.77. The company has a current ratio of 6.13, a quick ratio of 6.13 and a debt-to-equity ratio of 0.01. Galmed Pharmaceuticals has a 12-month low of $0.52 and a 12-month high of $4.08.

Several research firms have recently commented on GLMD. HC Wainwright lowered shares of Galmed Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 3rd. Canaccord Genuity Group reduced their price target on shares of Galmed Pharmaceuticals from $24.00 to $5.00 in a research report on Wednesday, May 4th. StockNews.com began coverage on Galmed Pharmaceuticals in a research note on Friday, May 13th. They set a “sell” rating for the company. Raymond James downgraded Galmed Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Zacks Investment Research upgraded Galmed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, February 1st.

Hedge funds have recently bought and sold shares of the business. Millennium Management LLC bought a new position in Galmed Pharmaceuticals in the 3rd quarter worth approximately $36,000. Cambridge Investment Research Advisors Inc. bought a new position in Galmed Pharmaceuticals in the 1st quarter worth approximately $42,000. Virtu Financial LLC bought a new position in Galmed Pharmaceuticals in the 4th quarter worth approximately $65,000. Geode Capital Management LLC boosted its stake in Galmed Pharmaceuticals by 36.2% in the 3rd quarter. Geode Capital Management LLC now owns 27,177 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 7,217 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake 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 worth $101,000 after purchasing an additional 38,856 shares during the period. 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.

See Also

Earnings History for Galmed Pharmaceuticals (NASDAQ:GLMD)

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