Galectin Therapeutics Inc. (NASDAQ:GALT – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $3.22 and traded as high as $4.00. Galectin Therapeutics shares last traded at $3.91, with a volume of 174,207 shares.
Analysts Set New Price Targets
A number of research firms recently weighed in on GALT. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Monday, September 14th. Zacks Research upgraded shares of Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.00.
View Our Latest Research Report on Galectin Therapeutics
Galectin Therapeutics Price Performance
The stock has a market cap of $257.51 million, a P/E ratio of -9.09 and a beta of 0.38. The company has a fifty day moving average of $3.72 and a 200 day moving average of $3.22.
Galectin Therapeutics (NASDAQ:GALT – Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). As a group, analysts anticipate that Galectin Therapeutics Inc. will post -0.3 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Vivaldi Capital Management LP raised its position in Galectin Therapeutics by 26.7% in the first quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock worth $721,000 after acquiring an additional 54,514 shares in the last quarter. Sovran Advisors LLC lifted its holdings in 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 acquiring an additional 31,956 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Galectin Therapeutics in the 2nd quarter valued at about $491,000. Renaissance Technologies LLC bought a new position in shares of Galectin Therapeutics during the 1st quarter valued at about $413,000. Finally, Hopwood Nicholas Hunter bought a new position in shares of Galectin Therapeutics during the 2nd quarter valued at about $322,000. Institutional investors own 11.68% of the company’s stock.
About Galectin Therapeutics
Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing therapies that target galectin-3, a protein associated with fibrosis, inflammation and immune-system regulation. The company’s research is aimed at addressing serious diseases for which treatment options remain limited.
Its lead product candidate is belapectin, an investigational galectin-3 inhibitor designed to reduce fibrotic activity and potentially improve liver-related complications. Galectin Therapeutics has primarily evaluated belapectin in patients with metabolic dysfunction-associated steatohepatotic cirrhosis, formerly referred to as nonalcoholic steatohepatitis cirrhosis, including complications such as portal hypertension and esophageal varices.
Galectin Therapeutics conducts its development activities through clinical research and collaborations in the United States and other relevant markets.
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