FBR & Co reissued their outperform rating on shares of Galena Biopharma Inc. (NASDAQ:GALE) in a report published on Thursday. FBR & Co currently has a $2.00 target price on the biotechnology company’s stock.

A number of other brokerages also recently commented on GALE. Noble Financial downgraded shares of Galena Biopharma from a buy rating to a hold rating in a research report on Wednesday, June 29th. Raymond James Financial Inc. downgraded shares of Galena Biopharma from an outperform rating to a market perform rating in a research report on Wednesday, June 29th. Zacks Investment Research raised shares of Galena Biopharma from a sell rating to a hold rating in a research report on Friday, July 1st. S&P Equity Research dropped their target price on shares of Galena Biopharma from $0.61 to $0.50 in a research report on Friday, July 1st. Finally, Maxim Group dropped their target price on shares of Galena Biopharma from $2.00 to $1.00 and set a buy rating on the stock in a research report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $2.26.

Shares of Galena Biopharma (NASDAQ:GALE) traded up 2.7758% on Thursday, hitting $0.2851. 1,041,034 shares of the company were exchanged. The firm’s 50-day moving average is $0.35 and its 200-day moving average is $0.99. The stock’s market capitalization is $61.00 million. Galena Biopharma has a 52-week low of $0.26 and a 52-week high of $2.49.

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

Large investors have recently modified their holdings of the company. State Street Corp increased 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. increased 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 increased 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 increased 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. increased 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. Institutional investors and hedge funds own 14.42% of the company’s stock.

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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