Galmed Pharmaceuticals (NASDAQ:GLMD) Issues Earnings Results

Galmed Pharmaceuticals (NASDAQ:GLMD) posted its earnings results on Wednesday. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.12) by $0.26, FiscalAI reports.

Galmed Pharmaceuticals Stock Down 4.9%

NASDAQ GLMD opened at $3.92 on Friday. The company has a market capitalization of $4.08 million, a price-to-earnings ratio of -0.54 and a beta of 0.67. Galmed Pharmaceuticals has a twelve month low of $3.29 and a twelve month high of $13.20. The stock has a fifty day simple moving average of $4.41 and a 200 day simple moving average of $4.73.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Galmed Pharmaceuticals currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Galmed Pharmaceuticals

A hedge fund recently bought a new position in Galmed Pharmaceuticals stock. Two Sigma Investments LP acquired a new position in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,200 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. Two Sigma Investments LP owned 1.28% of Galmed Pharmaceuticals at the end of the most recent reporting period. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

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.