Zacks Investment Research Lowers Galectin Therapeutics (GALT) to Hold
Zacks Investment Research cut shares of Galectin Therapeutics (NASDAQ:GALT) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
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 brokerages have also recently issued reports on GALT. ValuEngine cut shares of Galectin Therapeutics from a sell rating to a strong sell rating in a research report on Friday, December 1st. Roth Capital initiated coverage on shares of Galectin Therapeutics in a research report on Thursday, October 19th. They set a buy rating and a $8.00 price target for the company. Seaport Global Securities reissued a buy rating and set a $5.00 price target on shares of Galectin Therapeutics in a research report on Friday, October 6th. Finally, HC Wainwright lifted their price target on shares of Galectin Therapeutics from $3.50 to $6.00 and gave the company a buy rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $4.55.
Shares of Galectin Therapeutics (GALT) opened at $2.42 on Friday. Galectin Therapeutics has a 12-month low of $0.88 and a 12-month high of $3.68.
Galectin Therapeutics (NASDAQ:GALT) last posted its earnings results on Tuesday, November 7th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. sell-side analysts predict that Galectin Therapeutics will post -0.52 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of GALT. Northern Trust Corp lifted its position in Galectin Therapeutics by 4.4% during the 2nd quarter. Northern Trust Corp now owns 75,097 shares of the company’s stock valued at $185,000 after acquiring an additional 3,176 shares during the period. Virtu KCG Holdings LLC lifted its position in Galectin Therapeutics by 24.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 107,203 shares of the company’s stock valued at $264,000 after acquiring an additional 21,008 shares during the period. Advisor Group Inc. lifted its position in Galectin Therapeutics by 7.4% during the 3rd quarter. Advisor Group Inc. now owns 519,850 shares of the company’s stock valued at $1,112,000 after acquiring an additional 35,850 shares during the period. Finally, Vanguard Group Inc. increased its stake in Galectin Therapeutics by 18.2% during the 2nd quarter. Vanguard Group Inc. now owns 871,510 shares of the company’s stock valued at $2,144,000 after purchasing an additional 134,165 shares in the last quarter. 11.07% of the stock is owned by institutional investors.
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Galectin Therapeutics Company Profile
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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