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

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

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

Galectin Therapeutics Stock Performance

NASDAQ GALT opened at $2.72 on Friday. Galectin Therapeutics has a 1 year low of $1.55 and a 1 year high of $4.27. The business’s fifty day moving average is $2.47 and its two-hundred day moving average is $2.68. The stock has a market capitalization of $169.04 million, a P/E ratio of -3.68 and a beta of 0.62.

Galectin Therapeutics (NASDAQ:GALT) last announced 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, research analysts forecast that Galectin Therapeutics will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds have recently bought and sold shares of GALT. Vanguard Group Inc. increased its stake in shares of Galectin Therapeutics by 2.0% in the first 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. Commonwealth Equity Services LLC increased its position in Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after purchasing an additional 367,610 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of Galectin Therapeutics by 116.7% during the 1st quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock worth $952,000 after purchasing an additional 214,512 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at about $227,000. Finally, Squarepoint Ops LLC grew its stake in shares of Galectin Therapeutics by 75.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock valued at $190,000 after buying an additional 36,139 shares in 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.