Galectin Therapeutics Inc. (NASDAQ:GALT) was downgraded by equities researchers at HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday. They currently have a $1.50 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 7.14% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Roth Capital initiated coverage on shares of Galectin Therapeutics in a research note on Friday, July 1st. They issued a “buy” rating on the stock. FBR & Co reissued a “buy” rating on shares of Galectin Therapeutics in a research note 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 price objective on the stock in a research note on Monday, August 15th.
Galectin Therapeutics (NASDAQ:GALT) opened at 1.40 on Thursday. Galectin Therapeutics has a 1-year low of $1.08 and a 1-year high of $3.25. The stock has a 50 day moving average price of $1.90 and a 200-day moving average price of $1.61. The company’s market capitalization is $40.99 million.
Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Equities analysts predict that Galectin Therapeutics will post ($0.89) earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Galectin Therapeutics during the second quarter worth $584,000. BlackRock Fund Advisors boosted its stake in 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 last quarter. Finally, Vanguard Group Inc. boosted its stake in 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 last quarter. 11.69% of the stock is currently owned by hedge funds and other institutional investors.
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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