Galectin Therapeutics Inc. (GALT) Rating Lowered to Neutral at HC Wainwright
Galectin Therapeutics Inc. (NASDAQ:GALT) was downgraded by equities research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued on Thursday. They presently have a $1.50 price objective on the stock, down from their previous price objective of $8.00. HC Wainwright’s target price suggests a potential upside of 32.74% from the company’s previous close.
The analysts wrote, “Be All, End All”
Several other analysts also recently weighed in on the stock. Roth Capital reissued a “sell” rating and set a $0.75 target price (down previously from $3.00) on shares of Galectin Therapeutics in a research report on Wednesday, September 28th. FBR & Co reissued a “buy” rating on shares of Galectin Therapeutics in a research report on Friday, August 26th. Finally, Zacks Investment Research raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Monday, August 15th.
Shares of Galectin Therapeutics (NASDAQ:GALT) opened at 1.13 on Thursday. The stock’s market capitalization is $33.09 million. The stock has a 50 day moving average of $1.86 and a 200-day moving average of $1.60. Galectin Therapeutics has a 52 week low of $1.08 and a 52 week high of $3.25.
Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.04. On average, equities research analysts expect that Galectin Therapeutics will post ($0.91) EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of Galectin Therapeutics by 33.8% in the second quarter. BlackRock Fund Advisors now owns 78,955 shares of the company’s stock valued at $116,000 after buying an additional 19,967 shares during the last quarter. Advisor Group Inc. purchased a new position in Galectin Therapeutics during the second quarter valued at about $584,000. Finally, Vanguard Group Inc. boosted its position in Galectin Therapeutics by 0.4% in the second quarter. Vanguard Group Inc. now owns 606,537 shares of the company’s stock valued at $892,000 after buying an additional 2,490 shares in the last quarter. Institutional investors and hedge funds own 11.69% of the company’s stock.
Galectin Therapeutics Company Profile
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.
Receive News & Ratings for Galectin Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galectin Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.