Galectin Therapeutics (NASDAQ:GALT) Upgraded to “Hold” at StockNews.com

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

Separately, HC Wainwright reissued a buy rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research report on Friday, August 16th.

Galectin Therapeutics Stock Performance

GALT stock opened at $2.77 on Friday. The firm has a 50 day moving average price of $2.46 and a 200-day moving average price of $2.66. Galectin Therapeutics has a 52-week low of $1.55 and a 52-week high of $4.27. The firm has a market capitalization of $172.52 million, a price-to-earnings ratio of -3.74 and a beta of 0.62.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). As a group, sell-side analysts forecast that Galectin Therapeutics will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Galectin Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Traynor Capital Management Inc. raised its stake in shares of Galectin Therapeutics by 23.5% in the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after purchasing an additional 8,164 shares during the last quarter. Retirement Guys Formula LLC raised its position in Galectin Therapeutics by 56.9% in the 1st quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after buying an additional 12,232 shares during the last quarter. Marshall Wace LLP bought a new position in Galectin Therapeutics during the 2nd quarter valued at about $43,000. Rhumbline Advisers purchased a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at about $44,000. Finally, Squarepoint Ops LLC grew its stake in shares of Galectin Therapeutics by 75.4% in the second quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after acquiring an additional 36,139 shares during the period. 11.68% of the stock is owned by institutional investors.

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.