Galena Biopharma, Inc. (GALE) Given Average Rating of “Hold” by Brokerages
Galena Biopharma, Inc. (NASDAQ:GALE) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $2.17.
Several brokerages have issued reports on GALE. ValuEngine lowered Galena Biopharma from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Zacks Investment Research lowered Galena Biopharma from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th.
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Shares of Galena Biopharma (GALE) traded down 0.8267% on Monday, reaching $0.5518. The company had a trading volume of 297,437 shares. The firm’s 50 day moving average is $0.57 and its 200 day moving average is $1.11. The firm’s market capitalization is $20.66 million. Galena Biopharma has a 12 month low of $0.52 and a 12 month high of $49.80.
Galena Biopharma (NASDAQ:GALE) last posted its earnings results on Wednesday, May 10th. The biotechnology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.13. During the same period in the previous year, the business posted ($0.07) earnings per share. On average, equities research analysts expect that Galena Biopharma will post ($0.56) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Galena Biopharma stock. Vanguard Group Inc. boosted its stake in Galena Biopharma, Inc. (NASDAQ:GALE) by 561.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,319,132 shares of the biotechnology company’s stock after buying an additional 1,119,811 shares during the period. Vanguard Group Inc. owned 3.67% of Galena Biopharma worth $804,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.23% 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.
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