Galectin Therapeutics Inc. (GALT) Downgraded to “Neutral” at HC Wainwright
HC Wainwright downgraded shares of Galectin Therapeutics Inc. (NASDAQ:GALT) from a buy rating to a neutral rating in a report issued on Thursday. They currently have $1.50 price objective on the stock, down from their prior price objective of $8.00.
“Be All, End All,” HC Wainwright’s analyst commented.
A number of other brokerages have also commented on GALT. FBR & Co restated a buy rating on shares of Galectin Therapeutics in a report on Friday, August 26th. Zacks Investment Research raised shares of Galectin Therapeutics from a sell rating to a hold rating in a research report on Tuesday, July 19th. Finally, Roth Capital reaffirmed a sell rating and issued a $0.75 target price (down previously from $3.00) on shares of Galectin Therapeutics in a research report on Wednesday.
Galectin Therapeutics (NASDAQ:GALT) traded down 8.20% during trading on Thursday, hitting $1.12. 856,715 shares of the stock traded hands. The company’s market capitalization is $32.79 million. Galectin Therapeutics has a one year low of $1.08 and a one year high of $3.25. The company’s 50 day moving average is $1.88 and its 200 day moving average is $1.60.
Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. On average, equities analysts forecast that Galectin Therapeutics will post ($0.89) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Advisor Group Inc. bought a new stake in shares of Galectin Therapeutics during the second quarter valued at approximately $584,000. BlackRock Fund Advisors increased its stake 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 valued at $116,000 after buying an additional 19,967 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake 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 valued at $892,000 after buying an additional 2,490 shares during the last quarter. 11.69% of the stock is owned by institutional investors and hedge funds.
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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