Galecto (NASDAQ:GLTO) Price Target Raised to $10.00

Galecto (NASDAQ:GLTO) had its target price boosted by Oppenheimer from $9.00 to $10.00 in a research report report published on Thursday morning, MarketBeat reports. The firm currently has an outperform rating on the stock.

Galecto Stock Up 5.8 %

GLTO stock opened at $7.12 on Thursday. Galecto has a 52 week low of $6.50 and a 52 week high of $23.50. The business has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $13.63. The company has a market cap of $193.04 million, a PE ratio of -6.25 and a beta of 1.16.

Galecto (NASDAQ:GLTO) last issued its earnings results on Monday, August 12th. The company reported ($4.00) EPS for the quarter, beating the consensus estimate of ($8.00) by $4.00. On average, analysts anticipate that Galecto will post -18.75 EPS for the current fiscal year.

About Galecto

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.