Roth Capital reissued their sell rating on shares of Galectin Therapeutics Inc. (NASDAQ:GALT) in a research report released on Wednesday morning. The firm currently has a $0.75 price objective on the stock, down from their prior price objective of $3.00.
A number of other equities analysts have also recently issued reports on GALT. Zacks Investment Research upgraded Galectin Therapeutics from a sell rating to a hold rating in a report on Tuesday, July 19th. HC Wainwright restated a buy rating and issued a $8.00 target price on shares of Galectin Therapeutics in a report on Thursday, August 4th. Finally, FBR & Co restated a buy rating and issued a $12.00 target price on shares of Galectin Therapeutics in a report on Thursday, August 11th.
Shares of Galectin Therapeutics (NASDAQ:GALT) traded down 9.29% during mid-day trading on Wednesday, hitting $1.27. The stock had a trading volume of 797,497 shares. The company has a 50 day moving average price of $1.90 and a 200 day moving average price of $1.61. Galectin Therapeutics has a 12-month low of $1.08 and a 12-month high of $3.25. The firm’s market cap is $37.19 million.
Galectin Therapeutics (NASDAQ:GALT) last issued its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.04. Equities analysts forecast that Galectin Therapeutics will post ($0.89) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of GALT. Advisor Group Inc. acquired a new position in shares of Galectin Therapeutics during the second quarter worth $584,000. BlackRock Fund Advisors increased 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. Finally, Vanguard Group Inc. increased 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. Institutional investors and hedge funds 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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