Galectin Therapeutics Inc. (GALT) Cut to “Market Perform” at FBR & Co
Galectin Therapeutics Inc. (NASDAQ:GALT) was downgraded by research analysts at FBR & Co to a “market perform” rating in a research report issued to clients and investors on Monday.
GALT has been the topic of several other reports. HC Wainwright lowered shares of Galectin Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $1.50 in a research report on Thursday. Roth Capital assumed coverage on shares of Galectin Therapeutics in a research report on Friday, July 1st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research upgraded shares of Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Monday, August 15th.
Shares of Galectin Therapeutics (NASDAQ:GALT) opened at 1.13 on Monday. The firm has a 50-day moving average price of $1.86 and a 200-day moving average price of $1.60. Galectin Therapeutics has a 12 month low of $1.08 and a 12 month high of $3.25. The stock’s market cap is $33.09 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 consensus estimate of ($0.24) by $0.04. Equities analysts expect that Galectin Therapeutics will post ($0.91) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised 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 worth $116,000 after buying an additional 19,967 shares during the period. Advisor Group Inc. purchased a new stake in shares of Galectin Therapeutics during the second quarter worth about $584,000. Finally, Vanguard Group Inc. raised 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 worth $892,000 after buying an additional 2,490 shares during the period. Institutional investors and hedge funds own 11.69% of the company’s stock.
About Galectin Therapeutics
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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