Galmed Pharmaceuticals (NASDAQ:GLMD) Announces Quarterly Earnings Results, Beats Estimates By $1.43 EPS

Galmed Pharmaceuticals (NASDAQ:GLMD) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $1.43, FiscalAI reports.

Galmed Pharmaceuticals Stock Performance

Shares of NASDAQ:GLMD traded up $0.02 during midday trading on Tuesday, hitting $0.49. 15,084 shares of the company’s stock traded hands, compared to its average volume of 22,321. The firm’s fifty day moving average price is $0.64 and its two-hundred day moving average price is $0.97. Galmed Pharmaceuticals has a twelve month low of $0.41 and a twelve month high of $2.68. The company has a market cap of $2.69 million, a PE ratio of -1.53 and a beta of 0.40.

Hedge Funds Weigh In On Galmed Pharmaceuticals

An institutional investor recently bought a new position in Galmed Pharmaceuticals stock. Citadel Advisors LLC bought a new position in shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 50,492 shares of the biopharmaceutical company’s stock, valued at approximately $71,000. Citadel Advisors LLC owned about 3.05% of Galmed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 76.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Galmed Pharmaceuticals Company Profile

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.