Galectin Therapeutics Inc. (GALT) Cut to “Market Perform” at FBR & Co
Galectin Therapeutics Inc. (NASDAQ:GALT) was downgraded by investment analysts at FBR & Co to a “market perform” rating in a research note issued to investors on Monday.
A number of other research firms also recently commented on GALT. Zacks Investment Research upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Galectin Therapeutics in a research report on Thursday, August 4th. Finally, Roth Capital restated a “sell” rating and set a $0.75 price target (down from $3.00) on shares of Galectin Therapeutics in a research report on Wednesday, September 28th.
Galectin Therapeutics (NASDAQ:GALT) opened at 1.13 on Monday. The stock’s market cap is $33.09 million. Galectin Therapeutics has a 1-year low of $1.08 and a 1-year high of $3.25. The firm’s 50-day moving average is $1.86 and its 200-day moving average is $1.60.
Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. On average, analysts forecast that Galectin Therapeutics will post ($0.91) EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in GALT. Advisor Group Inc. acquired a new stake in Galectin Therapeutics during the second quarter worth approximately $584,000. BlackRock Fund Advisors increased its stake in Galectin Therapeutics by 33.8% in the second quarter. BlackRock Fund Advisors now owns 78,955 shares of the company’s stock worth $116,000 after buying an additional 19,967 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Galectin Therapeutics by 0.4% in the second quarter. Vanguard Group Inc. now owns 606,537 shares of the company’s stock worth $892,000 after buying an additional 2,490 shares during the last quarter. Institutional investors and hedge funds own 11.69% of the company’s stock.
About Galectin Therapeutics
Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The Company’s drug candidates are based on its method of targeting galectin proteins, which are mediators of biologic and pathologic functions.
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