Galectin Therapeutics Inc. (NASDAQ:GALT) was downgraded by analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a report released on Monday. They presently have a $2.00 price target on the stock, down from their prior price target of $12.00. FBR & Co’s price objective suggests a potential upside of 80.18% from the stock’s current price.
Several other equities research analysts have also weighed in on GALT. Roth Capital started coverage on Galectin Therapeutics in a research report on Friday, July 1st. They issued a “buy” rating on the stock. Zacks Investment Research raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Galectin Therapeutics in a report on Thursday, August 4th.
Galectin Therapeutics (NASDAQ:GALT) opened at 1.11 on Monday. The company has a 50-day moving average of $1.82 and a 200 day moving average of $1.60. Galectin Therapeutics has a 52 week low of $1.08 and a 52 week high of $3.25. The firm’s market cap is $32.50 million.
Galectin Therapeutics (NASDAQ:GALT) last issued its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. On average, equities analysts predict that Galectin Therapeutics will post ($0.91) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position 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. Advisor Group Inc. purchased a new position in Galectin Therapeutics during the second quarter worth about $584,000. Finally, Vanguard Group Inc. raised its position 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.
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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