Short Interest in Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) Declines By 22.8%

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 26,400 shares, a drop of 22.8% from the September 30th total of 34,200 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 2,600,000 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

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

Galmed Pharmaceuticals Price Performance

Shares of NASDAQ:GLMD opened at $3.66 on Wednesday. The company’s fifty day moving average price is $4.82 and its 200 day moving average price is $4.34. Galmed Pharmaceuticals has a 12 month low of $2.73 and a 12 month high of $23.80. The firm has a market capitalization of $18.46 million, a P/E ratio of -1.53 and a beta of 0.73.

Galmed Pharmaceuticals (NASDAQ:GLMD) last announced 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.