FBR & Co lowered shares of Galectin Therapeutics Inc. (NASDAQ:GALT) from an outperform rating to a market perform rating in a research note issued to investors on Monday morning. They currently have $2.00 price objective on the stock, down from their prior price objective of $12.00.
A number of other brokerages 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 issued a $8.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 4th. Finally, Roth Capital restated a sell rating and issued a $0.75 price objective (down previously from $3.00) on shares of Galectin Therapeutics in a research report on Wednesday, September 28th.
Galectin Therapeutics (NASDAQ:GALT) opened at 1.01 on Monday. Galectin Therapeutics has a one year low of $1.00 and a one year high of $3.25. The firm’s market capitalization is $29.57 million. The stock’s 50 day moving average price is $1.77 and its 200 day moving average price is $1.60.
Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.04. Analysts expect that Galectin Therapeutics will post ($0.91) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. bought a new position in shares of Galectin Therapeutics during the second quarter worth about $584,000. BlackRock Fund Advisors boosted its position 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 worth $116,000 after buying an additional 19,967 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of 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 period. 11.69% of the stock is owned by institutional investors.
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.
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