ValuEngine cut shares of SteadyMed Ltd. (NASDAQ:STDY) from a hold rating to a sell rating in a research note published on Friday.

Separately, Zacks Investment Research cut shares of SteadyMed from a hold rating to a sell rating in a research note on Tuesday, June 6th.

SteadyMed (NASDAQ:STDY) opened at 3.75 on Friday. The stock’s market capitalization is $99.59 million. SteadyMed has a 12-month low of $2.25 and a 12-month high of $9.70. The stock’s 50 day moving average is $6.12 and its 200 day moving average is $5.88.

SteadyMed (NASDAQ:STDY) last released its earnings results on Friday, August 11th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by $0.01. The company had revenue of $0.32 million during the quarter, compared to analyst estimates of $0.26 million. SteadyMed had a negative return on equity of 226.48% and a negative net margin of 3,179.76%. Equities analysts anticipate that SteadyMed will post ($1.56) EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in STDY. Federated Investors Inc. PA boosted its stake in SteadyMed by 37.9% in the 2nd quarter. Federated Investors Inc. PA now owns 4,916,977 shares of the company’s stock worth $29,296,000 after purchasing an additional 1,351,766 shares in the last quarter. Kingdon Capital Management L.L.C. acquired a new stake in SteadyMed in the 2nd quarter worth approximately $3,170,000. Nexthera Capital LP boosted its stake in SteadyMed by 6,579.5% in the 2nd quarter. Nexthera Capital LP now owns 360,626 shares of the company’s stock worth $2,272,000 after purchasing an additional 355,227 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in SteadyMed in the 2nd quarter worth approximately $1,251,000. Institutional investors own 57.70% of the company’s stock.

About SteadyMed

SteadyMed Ltd. is a specialty pharmaceutical company. The Company is focused on the development and commercialization of various therapeutic product candidates. Its primary focus is to obtain approval in the United States for the sale of Trevyent for the treatment of pulmonary arterial hypertension (PAH).

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