Galmed Pharmaceuticals (NASDAQ:GLMD – Get Free Report) issued its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($2.86) EPS for the quarter, topping analysts’ consensus estimates of ($3.12) by $0.26, FiscalAI reports.
Galmed Pharmaceuticals Stock Up 4.5%
NASDAQ:GLMD traded up $0.18 during mid-day trading on Wednesday, hitting $4.10. 14,484 shares of the stock traded hands, compared to its average volume of 181,474. Galmed Pharmaceuticals has a 52 week low of $3.29 and a 52 week high of $13.20. The stock has a market capitalization of $4.27 million, a price-to-earnings ratio of -0.56 and a beta of 0.74. The firm’s 50 day moving average is $4.43 and its two-hundred day moving average is $4.75.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP acquired a new stake in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned about 1.28% of Galmed Pharmaceuticals as of its most recent SEC filing. 76.14% of the stock is currently owned by institutional investors.
About Galmed Pharmaceuticals
Galmed Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for metabolic and liver diseases. The company’s principal program centers on Aramchol, a synthetic fatty acid-bile acid conjugate designed to reduce liver fat accumulation and fibrosis in patients with nonalcoholic steatohepatitis (NASH). Galmed conducts translational research to validate its mechanism of action and advance its drug candidates through regulatory trials.
In addition to Aramchol, Galmed maintains a pipeline of complementary small-molecule compounds aimed at modulating lipid metabolism and inflammatory pathways implicated in chronic liver disorders.
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