According to Zacks, “Galectin Therapeutics Inc. is a drug development company engaged in the development new therapies for fibrotic disease and cancer. The Company uses its carbohydrate technology that targets galectin proteins, the key mediators of biologic and pathologic function. Galectin Therapeutics uses naturally occurring carbohydrate polymers with galactose residues to create complex carbohydrates with specific molecular weights. Galectin Therapeutics, formerly known as Pro-Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts. “
GALT has been the subject of several other research reports. Roth Capital assumed coverage on shares of Galectin Therapeutics in a research report on Friday, July 1st. They set a buy rating for the company. 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, FBR & Co restated a buy rating and set a $12.00 price target on shares of Galectin Therapeutics in a research report on Thursday, August 11th.
Shares of Galectin Therapeutics (NASDAQ:GALT) opened at 1.01 on Monday. The stock’s 50 day moving average is $1.77 and its 200 day moving average is $1.60. Galectin Therapeutics has a 1-year low of $1.00 and a 1-year high of $3.25. The company’s market capitalization is $29.57 million.
Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Tuesday, August 9th. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. On average, equities research analysts anticipate that Galectin Therapeutics will post ($0.91) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of GALT. BlackRock Fund Advisors raised 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 in the last quarter. Advisor Group Inc. acquired a new position in shares of Galectin Therapeutics during the second quarter worth $584,000. Finally, Vanguard Group Inc. raised 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 in the last quarter. Hedge funds and other institutional investors 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.
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