Galena Biopharma Inc. (NASDAQ:GALE)‘s stock had its “buy” rating reaffirmed by stock analysts at Maxim Group in a report issued on Friday. They currently have a $1.00 target price on the biotechnology company’s stock. Maxim Group’s price target indicates a potential downside of 71.75% from the company’s current price.

A number of other analysts also recently commented on GALE. Zacks Investment Research upgraded shares of Galena Biopharma from a “hold” rating to a “buy” rating and set a $0.25 target price on the stock in a report on Monday, November 7th. FBR & Co reissued an “outperform” rating and issued a $2.00 target price on shares of Galena Biopharma in a research report on Thursday, October 13th. Finally, S&P Equity Research dropped their target price on shares of Galena Biopharma from $0.39 to $0.34 in a research report on Tuesday, September 20th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $2.73.

Analyst Recommendations for Galena Biopharma (NASDAQ:GALE)

Shares of Galena Biopharma (NASDAQ:GALE) opened at 3.54 on Friday. The stock’s market cap is $768.25 million. The firm has a 50-day moving average price of $0.36 and a 200-day moving average price of $0.81. Galena Biopharma has a 12 month low of $0.16 and a 12 month high of $4.00.

Galena Biopharma (NASDAQ:GALE) last released its earnings results on Wednesday, November 9th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Equities analysts expect that Galena Biopharma will post ($0.14) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp increased its position in shares of Galena Biopharma by 6.9% in the third quarter. Northern Trust Corp now owns 2,041,633 shares of the biotechnology company’s stock worth $715,000 after buying an additional 131,185 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Galena Biopharma by 15.1% in the third quarter. California State Teachers Retirement System now owns 442,650 shares of the biotechnology company’s stock worth $155,000 after buying an additional 58,100 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Galena Biopharma by 5.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,398,909 shares of the biotechnology company’s stock valued at $1,541,000 after buying an additional 246,804 shares in the last quarter. BlackRock Investment Management LLC increased its stake in Galena Biopharma by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 708,015 shares of the biotechnology company’s stock valued at $248,000 after buying an additional 3,060 shares in the last quarter. Finally, State Street Corp increased its stake in Galena Biopharma by 14.7% in the second quarter. State Street Corp now owns 2,753,970 shares of the biotechnology company’s stock valued at $1,284,000 after buying an additional 352,324 shares in the last quarter. 15.02% of the stock is currently 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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