HC Wainwright Reiterates “Buy” Rating for Galectin Therapeutics (NASDAQ:GALT)

Galectin Therapeutics (NASDAQ:GALT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 297.11% from the stock’s current price. HC Wainwright also issued estimates for Galectin Therapeutics’ FY2027 earnings at $1.25 EPS and FY2028 earnings at $3.39 EPS.

Separately, StockNews.com cut shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th.

Galectin Therapeutics Stock Performance

Shares of GALT stock opened at $2.77 on Friday. Galectin Therapeutics has a 1 year low of $1.55 and a 1 year high of $4.27. The business’s fifty day moving average is $2.69 and its 200-day moving average is $2.62. The stock has a market cap of $172.51 million, a PE ratio of -3.79 and a beta of 0.62.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new stake in shares of Galectin Therapeutics during the 2nd quarter worth $43,000. Rhumbline Advisers acquired a new position in shares of Galectin Therapeutics in the 2nd quarter valued at $44,000. Gladstone Institutional Advisory LLC purchased a new position in Galectin Therapeutics in the 3rd quarter worth about $60,000. Barclays PLC raised its holdings in Galectin Therapeutics by 309.0% during the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after buying an additional 21,598 shares during the period. Finally, Traynor Capital Management Inc. lifted its stake in Galectin Therapeutics by 23.5% during the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after buying an additional 8,164 shares in the last quarter. Institutional investors and hedge funds own 11.68% of the company’s stock.

About Galectin Therapeutics

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.