HC Wainwright cut shares of Galectin Therapeutics Inc. (NASDAQ:GALT) from a buy rating to a neutral rating in a report published on Thursday. They currently have $1.50 price objective on the stock, down from their previous price objective of $8.00.
“Be All, End All,” the firm’s analyst commented.
A number of other analysts have also recently issued reports on GALT. Roth Capital initiated coverage on Galectin Therapeutics in a research report on Friday, July 1st. They issued a buy rating for the company. Zacks Investment Research raised Galectin Therapeutics from a sell rating to a hold rating in a research report on Tuesday, July 19th. Finally, FBR & Co reaffirmed a buy rating and issued a $12.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 11th.
Shares of Galectin Therapeutics (NASDAQ:GALT) opened at 1.11 on Thursday. The firm’s market cap is $32.50 million. Galectin Therapeutics has a 52 week low of $1.08 and a 52 week high of $3.25. The company has a 50-day moving average price of $1.82 and a 200 day moving average price of $1.60.
Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) earnings per share (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 fiscal year.
Institutional investors have recently made changes to their positions in the company. Advisor Group Inc. purchased a new position in shares of Galectin Therapeutics during the second quarter worth $584,000. 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 during the period. 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 during the period. 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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