Galectin Therapeutics (NASDAQ:GALT) Upgraded at StockNews.com

StockNews.com upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a sell rating to a hold rating in a research report released on Friday.

Separately, HC Wainwright reaffirmed a buy rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research note on Friday, August 16th.

Galectin Therapeutics Trading Down 2.5 %

Shares of NASDAQ GALT opened at $2.77 on Friday. Galectin Therapeutics has a 12 month low of $1.55 and a 12 month high of $4.27. The firm has a market capitalization of $172.15 million, a price-to-earnings ratio of -3.74 and a beta of 0.62. The business has a 50-day moving average of $2.47 and a 200-day moving average of $2.68.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). On average, analysts predict that Galectin Therapeutics will post -0.79 earnings per share for the current year.

Institutional Trading of Galectin Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in Galectin Therapeutics in the second quarter valued at approximately $227,000. Squarepoint Ops LLC lifted its position in Galectin Therapeutics by 75.4% in the second quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock valued at $190,000 after purchasing an additional 36,139 shares during the last quarter. Marshall Wace LLP bought a new stake in Galectin Therapeutics in the second quarter valued at approximately $43,000. Rhumbline Advisers bought a new stake in Galectin Therapeutics in the second quarter valued at approximately $44,000. Finally, Commonwealth Equity Services LLC lifted its position in Galectin Therapeutics by 317.6% in the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after purchasing an additional 367,610 shares during the last quarter. Hedge funds and other institutional investors own 11.68% of the company’s stock.

About Galectin Therapeutics

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.