Galena Biopharma Inc. (NASDAQ:GALE) has been given a $1.00 price target by equities research analysts at Maxim Group in a research report issued on Monday. The brokerage currently has a a “buy” rating on the biotechnology company’s stock. Maxim Group’s price objective indicates a potential upside of 230.47% from the company’s current price.

Other research analysts have also recently issued reports about the stock. FBR & Co reissued an “outperform” rating and set a $5.00 price objective on shares of Galena Biopharma in a report on Tuesday, June 14th. Noble Financial cut shares of Galena Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Raymond James Financial Inc. cut shares of Galena Biopharma from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 29th. Zacks Investment Research raised shares of Galena Biopharma from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a report on Tuesday, July 12th. Finally, S&P Equity Research reduced their target price on shares of Galena Biopharma from $0.61 to $0.50 in a report on Friday, July 1st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $2.29.

Analyst Recommendations for Galena Biopharma (NASDAQ:GALE)

Galena Biopharma (NASDAQ:GALE) traded down 6.477% during mid-day trading on Monday, hitting $0.283. 3,581,429 shares of the stock were exchanged. The stock’s market capitalization is $60.55 million. The company has a 50-day moving average of $0.37 and a 200-day moving average of $1.00. Galena Biopharma has a 52 week low of $0.28 and a 52 week high of $2.49.

Galena Biopharma (NASDAQ:GALE) last released its quarterly earnings data on Tuesday, August 9th. The biotechnology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. During the same quarter in the previous year, the firm earned ($0.10) EPS. On average, equities analysts predict that Galena Biopharma will post ($0.12) EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in GALE. State Street Corp boosted its stake in shares of Galena Biopharma by 14.7% in the second quarter. State Street Corp now owns 2,753,970 shares of the biotechnology company’s stock worth $1,284,000 after buying an additional 352,324 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Galena Biopharma by 8.5% in the second quarter. Teachers Advisors Inc. now owns 281,597 shares of the biotechnology company’s stock worth $131,000 after buying an additional 22,170 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Galena Biopharma by 0.9% in the second quarter. BlackRock Fund Advisors now owns 4,766,441 shares of the biotechnology company’s stock worth $2,222,000 after buying an additional 42,824 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of Galena Biopharma by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 704,955 shares of the biotechnology company’s stock worth $329,000 after buying an additional 45,237 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Galena Biopharma by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,898,520 shares of the biotechnology company’s stock worth $3,215,000 after buying an additional 153,637 shares during the period. 14.42% of the stock is owned by hedge funds and other institutional investors.

Galena Biopharma Company Profile

Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.

5 Day Chart for NASDAQ:GALE

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