Shares of Galena Biopharma Inc. (NASDAQ:GALE) have earned a consensus recommendation of “Buy” from the nine research firms that are covering the firm. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $2.62.

Several brokerages have weighed in on GALE. Zacks Investment Research raised shares of Galena Biopharma from a “hold” rating to a “buy” rating and set a $0.25 price objective on the stock in a research note on Monday, November 7th. Maxim Group reaffirmed a “buy” rating and set a $1.00 price objective on shares of Galena Biopharma in a research note on Friday, November 11th. FBR & Co reaffirmed an “outperform” rating and set a $2.00 price objective on shares of Galena Biopharma in a research note on Thursday, October 13th. Finally, S&P Equity Research decreased their price objective on shares of Galena Biopharma from $0.39 to $0.34 in a research note on Tuesday, September 20th.

Galena Biopharma (NASDAQ:GALE) opened at 3.54 on Wednesday. The company’s market cap is $38.41 million. Galena Biopharma has a 12-month low of $3.15 and a 12-month high of $4.75. The firm has a 50 day moving average price of $1.10 and a 200 day moving average price of $0.95.

Galena Biopharma (NASDAQ:GALE) last issued its quarterly earnings data on Wednesday, November 9th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. On average, analysts anticipate that Galena Biopharma will post ($2.70) earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Teachers Advisors Inc. boosted its stake in Galena Biopharma by 8.5% in the second quarter. Teachers Advisors Inc. now owns 281,597 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 22,170 shares during the period. California State Teachers Retirement System boosted its stake in 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 valued at $155,000 after buying an additional 58,100 shares during the period. Bank of New York Mellon Corp boosted its stake in Galena Biopharma by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 649,316 shares of the biotechnology company’s stock valued at $303,000 after buying an additional 32,290 shares during the period. BlackRock Investment Management LLC boosted its stake in Galena Biopharma by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 704,955 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 45,237 shares during the period. Finally, Northern Trust Corp boosted its stake in Galena Biopharma by 6.9% in the third quarter. Northern Trust Corp now owns 2,041,633 shares of the biotechnology company’s stock valued at $715,000 after buying an additional 131,185 shares during the period.

WARNING: This article was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this article can be read at https://www.thecerbatgem.com/2016/11/26/brokerages-set-galena-biopharma-inc-gale-pt-at-2-62.html.

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

Receive News & Stock Ratings for Galena Biopharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galena Biopharma Inc. and related stocks with our FREE daily email newsletter.