Galectin Therapeutics Inc. (GALT) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Galectin Therapeutics Inc. (NASDAQ:GALT) from a hold rating to a buy rating in a research report report published on Monday morning. They currently have $1.00 target price on the stock.
According to Zacks, “Galectin Therapeutics Inc. is a drug development company engaged in the development new therapies for fibrotic disease and cancer. The Company uses its carbohydrate technology that targets galectin proteins, the key mediators of biologic and pathologic function. Galectin Therapeutics uses naturally occurring carbohydrate polymers with galactose residues to create complex carbohydrates with specific molecular weights. Galectin Therapeutics, formerly known as Pro-Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts. “
Several other research firms have also commented on GALT. FBR & Co restated a buy rating on shares of Galectin Therapeutics in a research report on Friday, August 26th. HC Wainwright restated a buy rating and set a $8.00 price target on shares of Galectin Therapeutics in a research report on Thursday, August 4th. Finally, Roth Capital restated a sell rating and set a $0.75 price target (down previously from $3.00) on shares of Galectin Therapeutics in a research report on Wednesday, September 28th.
Shares of Galectin Therapeutics (NASDAQ:GALT) opened at 0.9655 on Monday. The stock has a 50 day moving average of $0.86 and a 200-day moving average of $1.45. The company’s market capitalization is $28.27 million. Galectin Therapeutics has a 12-month low of $0.49 and a 12-month high of $3.05.
A number of institutional investors have recently bought and sold shares of the stock. KCG Holdings Inc. bought a new position in Galectin Therapeutics during the third quarter valued at about $114,000. BlackRock Fund Advisors increased its position in 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. Benchmark Capital Advisors increased its position in Galectin Therapeutics by 98.3% in the third quarter. Benchmark Capital Advisors now owns 118,200 shares of the company’s stock valued at $134,000 after buying an additional 58,600 shares during the last quarter. Courage Capital Management LLC bought a new position in Galectin Therapeutics during the third quarter valued at about $147,000. Finally, Advisor Group Inc. increased its position in Galectin Therapeutics by 3.8% in the third quarter. Advisor Group Inc. now owns 413,125 shares of the company’s stock valued at $467,000 after buying an additional 15,200 shares during the last quarter. 11.87% of the stock is currently owned by institutional investors and hedge funds.
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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