Galectin Therapeutics (NASDAQ:GALT) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a research note released on Tuesday morning.

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

Galectin Therapeutics Stock Performance

Galectin Therapeutics stock opened at $2.77 on Tuesday. The stock has a market capitalization of $172.52 million, a price-to-earnings ratio of -3.51 and a beta of 0.62. Galectin Therapeutics has a 52-week low of $1.55 and a 52-week high of $4.27. The stock’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $2.62.

Galectin Therapeutics (NASDAQ:GALT) last issued its earnings results 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). On average, equities research analysts forecast that Galectin Therapeutics will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its position in shares of Galectin Therapeutics by 317.6% during the 2nd 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. Sanctuary Advisors LLC purchased a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at $227,000. Bank of New York Mellon Corp purchased a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at $146,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Galectin Therapeutics during the 3rd quarter valued at $117,000. Finally, Vanguard Group Inc. increased its holdings in Galectin Therapeutics by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock worth $4,732,000 after acquiring an additional 38,037 shares during the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

Galectin Therapeutics Company Profile

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.