Galmed Pharmaceuticals (NASDAQ:GLMD) Stock Crosses Below 200 Day Moving Average – Time to Sell?

Shares of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.25 and traded as low as $2.93. Galmed Pharmaceuticals shares last traded at $2.99, with a volume of 35,615 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Galmed Pharmaceuticals in a research report on Wednesday, October 9th. They issued a “sell” rating on the stock.

Galmed Pharmaceuticals Trading Down 5.5 %

The company has a 50-day simple moving average of $4.73 and a 200 day simple moving average of $4.23. The company has a market cap of $1.88 million, a P/E ratio of -0.17 and a beta of 0.80.

Galmed Pharmaceuticals (NASDAQ:GLMD) last posted its quarterly earnings results on Wednesday, August 28th. The biopharmaceutical company reported $2.16 EPS for the quarter.

About Galmed Pharmaceuticals

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.