Galectin Therapeutics Inc. (GALT) Upgraded to Buy by Zacks Investment Research
Galectin Therapeutics Inc. (NASDAQ:GALT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $1.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.11% from the company’s current price.
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. “
A number of other equities analysts also recently commented on GALT. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 4th. FBR & Co reiterated a “buy” rating and set a $12.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 11th. Finally, Roth Capital reiterated a “sell” rating and set a $0.75 price objective (down previously from $3.00) on shares of Galectin Therapeutics in a research report on Wednesday, September 28th.
Galectin Therapeutics (NASDAQ:GALT) traded up 1.11% during trading on Monday, hitting $0.90. The stock had a trading volume of 88,966 shares. The company’s market cap is $26.46 million. The company’s 50 day moving average is $0.83 and its 200-day moving average is $1.43. Galectin Therapeutics has a 12 month low of $0.49 and a 12 month high of $3.05.
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Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Galectin Therapeutics by 0.4% in the second quarter. Vanguard Group Inc. now owns 606,537 shares of the company’s stock worth $892,000 after buying an additional 2,490 shares in the last quarter. D.A. Davidson & CO. increased its stake in Galectin Therapeutics by 5.9% in the third quarter. D.A. Davidson & CO. now owns 602,731 shares of the company’s stock worth $681,000 after buying an additional 33,382 shares in the last quarter. Advisor Group Inc. increased its stake in Galectin Therapeutics by 3.8% in the third quarter. Advisor Group Inc. now owns 413,125 shares of the company’s stock worth $467,000 after buying an additional 15,200 shares in the last quarter. Courage Capital Management LLC acquired a new stake in Galectin Therapeutics during the third quarter worth approximately $147,000. Finally, Benchmark Capital Advisors increased its stake in Galectin Therapeutics by 98.3% in the third quarter. Benchmark Capital Advisors now owns 118,200 shares of the company’s stock worth $134,000 after buying an additional 58,600 shares in the last quarter. Institutional investors own 10.19% of the company’s stock.
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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