Galmed Pharmaceuticals (NASDAQ:GLMD) Shares Cross Above 50-Day Moving Average – Here’s Why

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.47 and traded as high as $1.61. Galmed Pharmaceuticals shares last traded at $1.57, with a volume of 37,833 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Galmed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Galmed Pharmaceuticals Price Performance

The company has a market cap of $2.59 million, a price-to-earnings ratio of -0.09 and a beta of 0.50. The business’s fifty day moving average price is $1.47 and its 200 day moving average price is $1.56.

Galmed Pharmaceuticals Company Profile

Galmed Pharmaceuticals Ltd., a 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.