Galectin Therapeutics (NASDAQ:GALT) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a sell rating to a hold rating in a research note issued to investors on Friday.

Separately, HC Wainwright reiterated a buy rating and issued a $11.00 price objective on shares of Galectin Therapeutics in a report on Friday, August 16th.

Galectin Therapeutics Stock Down 2.5 %

Shares of Galectin Therapeutics stock opened at $2.77 on Friday. The company has a market cap of $172.15 million, a PE ratio of -3.74 and a beta of 0.62. The business has a 50 day moving average of $2.47 and a 200 day moving average of $2.68. Galectin Therapeutics has a 52 week low of $1.55 and a 52 week high of $4.27.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). On average, research analysts anticipate that Galectin Therapeutics will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

A number of institutional investors have recently modified their holdings of GALT. Marshall Wace LLP purchased a new stake in shares of Galectin Therapeutics in the second quarter worth $43,000. Rhumbline Advisers bought a new stake in Galectin Therapeutics in the 2nd quarter worth about $44,000. Retirement Guys Formula LLC increased its holdings in Galectin Therapeutics by 56.9% in the 1st quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after buying an additional 12,232 shares in the last quarter. Traynor Capital Management Inc. increased its holdings in Galectin Therapeutics by 23.5% in the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after buying an additional 8,164 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Galectin Therapeutics in the 2nd quarter worth about $146,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

Galectin Therapeutics Company Profile

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.