Galena Biopharma Inc. (GALE) Stock Rating Reaffirmed by FBR & Co
FBR & Co reiterated their outperform rating on shares of Galena Biopharma Inc. (NASDAQ:GALE) in a research note published on Thursday morning. The firm currently has a $2.00 price objective on the biotechnology company’s stock.
GALE has been the topic of a number of other reports. Zacks Investment Research upgraded Galena Biopharma from a hold rating to a strong-buy rating and set a $0.25 target price on the stock in a research report on Tuesday, October 11th. S&P Equity Research dropped their target price on Galena Biopharma from $0.39 to $0.34 in a research report on Tuesday, September 20th. Maxim Group reiterated a buy rating and issued a $2.00 price objective (down from $4.00) on shares of Galena Biopharma in a report on Monday, July 11th. Raymond James Financial Inc. cut Galena Biopharma from an outperform rating to a market perform rating in a report on Wednesday, June 29th. Finally, Noble Financial cut Galena Biopharma from a buy rating to a hold rating in a report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $2.26.
Shares of Galena Biopharma (NASDAQ:GALE) opened at 0.2693 on Thursday. The firm’s 50-day moving average price is $0.34 and its 200-day moving average price is $0.96. Galena Biopharma has a 12 month low of $0.26 and a 12 month high of $2.49. The stock’s market capitalization is $57.62 million.
Galena Biopharma (NASDAQ:GALE) last posted its earnings results on Tuesday, August 9th. The biotechnology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.11. During the same period last year, the firm earned ($0.10) EPS. On average, equities research analysts forecast that Galena Biopharma will post ($0.12) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors Inc. raised its position in Galena Biopharma by 8.5% in the second quarter. Teachers Advisors Inc. now owns 281,597 shares of the biotechnology company’s stock worth $131,000 after buying an additional 22,170 shares during the period. Bank of New York Mellon Corp raised its position in Galena Biopharma by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 649,316 shares of the biotechnology company’s stock worth $303,000 after buying an additional 32,290 shares during the period. BlackRock Investment Management LLC raised its position in Galena Biopharma by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 704,955 shares of the biotechnology company’s stock worth $329,000 after buying an additional 45,237 shares during the period. State Street Corp raised its position in Galena Biopharma by 14.7% in the second quarter. State Street Corp now owns 2,753,970 shares of the biotechnology company’s stock worth $1,284,000 after buying an additional 352,324 shares during the period. Finally, Geode Capital Management LLC raised its position in Galena Biopharma by 11.2% in the first quarter. Geode Capital Management LLC now owns 1,227,715 shares of the biotechnology company’s stock worth $1,669,000 after buying an additional 123,736 shares during the period. 14.41% of the stock is currently owned by institutional investors and hedge funds.
Galena Biopharma Company Profile
Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.
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