Galectin Therapeutics (NASDAQ:GALT) Upgraded to “Hold” at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Galectin Therapeutics (NASDAQ:GALT – Free Report) from a sell rating to a hold rating in a research note published on Sunday morning.

Separately, HC Wainwright reaffirmed a buy rating and set a $11.00 price target on shares of Galectin Therapeutics in a research report on Friday, August 16th.

View Our Latest Research Report on Galectin Therapeutics

Galectin Therapeutics Trading Down 4.0 %

Shares of GALT opened at $2.63 on Friday. Galectin Therapeutics has a 12 month low of $1.55 and a 12 month high of $4.27. The stock has a fifty day moving average price of $2.52 and a 200-day moving average price of $2.72. The firm has a market cap of $163.45 million, a PE ratio of -3.55 and a beta of 0.61.

Galectin Therapeutics (NASDAQ:GALT – Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). As a group, research analysts forecast that Galectin Therapeutics will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in Galectin Therapeutics in the 2nd quarter valued at about $43,000. Rhumbline Advisers purchased a new position in Galectin Therapeutics in the 2nd quarter worth approximately $44,000. Retirement Guys Formula LLC lifted its stake in Galectin Therapeutics by 56.9% in the 1st quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after purchasing an additional 12,232 shares in the last quarter. Traynor Capital Management Inc. lifted its stake in Galectin Therapeutics by 23.5% in the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after purchasing an additional 8,164 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Galectin Therapeutics in the 2nd quarter worth approximately $146,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

Galectin Therapeutics Company Profile

(Get Free Report)

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.

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