Galectin Therapeutics’ (GALT) “Buy” Rating Reaffirmed at HC Wainwright

Galectin Therapeutics (NASDAQ:GALT)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $11.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 217.00% from the stock’s previous close.

Several other research analysts have also commented on the stock. Weiss Ratings raised shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Galectin Therapeutics currently has a consensus rating of “Hold” and an average target price of $11.00.

Galectin Therapeutics Stock Up 23.9%

NASDAQ:GALT traded up $0.67 during trading hours on Tuesday, reaching $3.47. 1,208,172 shares of the stock were exchanged, compared to its average volume of 343,111. Galectin Therapeutics has a twelve month low of $2.03 and a twelve month high of $7.13. The business has a 50-day moving average of $2.42 and a two-hundred day moving average of $3.12. The company has a market capitalization of $228.53 million, a price-to-earnings ratio of -8.46 and a beta of 0.47.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). On average, research analysts forecast that Galectin Therapeutics will post -0.37 EPS for the current fiscal year.

Institutional Trading of Galectin Therapeutics

Large investors have recently made changes to their positions in the company. Vivaldi Capital Management LP lifted its holdings in Galectin Therapeutics by 26.7% during the 1st quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock worth $721,000 after buying an additional 54,514 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Galectin Therapeutics during the 1st quarter worth approximately $413,000. Sovran Advisors LLC boosted its holdings in shares of Galectin Therapeutics by 14.1% in the 1st quarter. Sovran Advisors LLC now owns 257,830 shares of the company’s stock valued at $719,000 after buying an additional 31,956 shares in the last quarter. Tulsa Wealth Advisors INC acquired a new position in shares of Galectin Therapeutics in the 4th quarter valued at $97,000. Finally, Invesco Ltd. purchased a new position in shares of Galectin Therapeutics in the 4th quarter valued at $43,000. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.