FY2017 EPS Estimates for Galectin Therapeutics Inc. (GALT) Lowered by Analyst
Galectin Therapeutics Inc. (NASDAQ:GALT) – Stock analysts at FBR & Co cut their FY2017 earnings per share (EPS) estimates for shares of Galectin Therapeutics in a research report issued to clients and investors on Monday. FBR & Co analyst V. Bernardino now forecasts that the brokerage will post earnings of ($1.09) per share for the year, down from their previous forecast of $0.50. FBR & Co has a “Market Perform” rating and a $2.00 price target on the stock. FBR & Co also issued estimates for Galectin Therapeutics’ FY2018 earnings at ($0.71) EPS, FY2019 earnings at ($0.88) EPS and FY2020 earnings at ($0.50) EPS.
Other equities analysts have also issued reports about the stock. HC Wainwright lowered shares of Galectin Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $1.50 in a research report on Thursday, September 29th. Roth Capital initiated coverage on shares of Galectin Therapeutics in a research report on Friday, July 1st. They set a “buy” rating on the stock. Finally, Zacks Investment Research lowered shares of Galectin Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday.
Galectin Therapeutics (NASDAQ:GALT) opened at 1.06 on Wednesday. The stock’s 50 day moving average is $1.79 and its 200-day moving average is $1.60. Galectin Therapeutics has a 12 month low of $1.04 and a 12 month high of $3.25. The stock’s market capitalization is $31.04 million.
Galectin Therapeutics (NASDAQ:GALT) last issued its earnings results on Tuesday, August 9th. The company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.04.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised 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 during the last quarter. Advisor Group Inc. purchased a new position in Galectin Therapeutics during the second quarter valued at $584,000. Finally, BlackRock Fund Advisors raised its position in 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. Institutional investors 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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