Galectin Therapeutics (NASDAQ:GALT) Earns “Buy” Rating from HC Wainwright

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

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

Galectin Therapeutics Stock Performance

Shares of GALT stock traded up $0.67 on Tuesday, reaching $3.47. 1,208,172 shares of the company were exchanged, compared to its average volume of 343,111. Galectin Therapeutics has a 1 year low of $2.03 and a 1 year high of $7.13. The business has a 50-day moving average price of $2.42 and a 200 day moving average price of $3.12. The company has a market cap of $228.53 million, a price-to-earnings ratio of -8.46 and a beta of 0.47.

Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, equities analysts anticipate that Galectin Therapeutics will post -0.37 earnings per share for the current year.

Institutional Trading of Galectin Therapeutics

Several institutional investors have recently made changes to their positions in GALT. Royal Bank of Canada increased its stake in Galectin Therapeutics by 1,197.3% during the fourth quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock worth $25,000 after acquiring an additional 5,699 shares during the last quarter. Invesco Ltd. acquired a new position in Galectin Therapeutics in the fourth quarter valued at about $43,000. Bank of America Corp DE lifted its position in Galectin Therapeutics by 101.4% in the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after buying an additional 19,316 shares during the last quarter. Cetera Investment Advisers purchased a new position in Galectin Therapeutics during the fourth quarter worth about $59,000. Finally, Hudson Bay Capital Management LP purchased a new position in Galectin Therapeutics during the third quarter worth about $63,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

About Galectin Therapeutics

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.