Galmed Pharmaceuticals (NASDAQ:EOCN) Shares Cross Below 200 Day Moving Average – Should You Sell?

Shares of Galmed Pharmaceuticals Ltd. (NASDAQ:EOCN) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.63 and traded as low as $2.33. Galmed Pharmaceuticals shares last traded at $2.85, with a volume of 10,975 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Galmed Pharmaceuticals in a research report on Thursday. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Galmed Pharmaceuticals Stock Performance

The stock has a market cap of $2.96 million, a price-to-earnings ratio of -0.19 and a beta of 0.66. The company’s 50 day simple moving average is $4.31 and its 200 day simple moving average is $4.64.

Galmed Pharmaceuticals (NASDAQ:EOCN) last issued its quarterly earnings results on Wednesday, September 2nd. The biopharmaceutical company reported ($2.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.12) by $0.26.

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. The company also evaluates Aramchol through ARRIVE Study, a Phase IIa clinical trial with HIV-associated non-alcoholic fatty liver disease and lipodystrophy.