Galecto (NASDAQ:GLTO) Posts Earnings Results, Beats Estimates By $0.16 EPS

Galecto (NASDAQ:GLTO) posted its quarterly earnings results on Monday. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.16, Zacks reports.

Galecto Stock Up 0.7 %

NASDAQ:GLTO traded up $0.00 during trading hours on Wednesday, hitting $0.55. 26,929 shares of the company’s stock traded hands, compared to its average volume of 189,309. The firm has a market cap of $14.78 million, a P/E ratio of -0.47 and a beta of 1.17. Galecto has a 52 week low of $0.46 and a 52 week high of $1.08. The business’s fifty day simple moving average is $0.52 and its two-hundred day simple moving average is $0.64.

Wall Street Analyst Weigh In

Separately, Oppenheimer cut their price target on Galecto from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.33.

Galecto Company Profile

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.