Galectin Therapeutics (NASDAQ:GALT) Rating Increased to Hold at StockNews.com

Galectin Therapeutics (NASDAQ:GALT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a report on Friday, August 16th.

Galectin Therapeutics Price Performance

Shares of NASDAQ GALT opened at $2.82 on Friday. The company has a market cap of $175.26 million, a PE ratio of -3.81 and a beta of 0.61. Galectin Therapeutics has a 12 month low of $1.55 and a 12 month high of $4.27. The company has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $2.71.

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

Institutional Investors Weigh In On Galectin Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in Galectin Therapeutics in the second quarter valued at approximately $227,000. Squarepoint Ops LLC increased its position 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 in the last quarter. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics in the second quarter worth $43,000. Rhumbline Advisers acquired a new stake in shares of Galectin Therapeutics in the second quarter worth $44,000. Finally, Commonwealth Equity Services LLC increased its position in shares of Galectin Therapeutics by 317.6% in the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares in the last quarter. 11.68% of the stock is currently owned by hedge funds and other 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.