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

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

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

Galectin Therapeutics Price Performance

Shares of NASDAQ:GALT opened at $2.71 on Friday. The business’s 50-day moving average is $2.49 and its 200 day moving average is $2.70. Galectin Therapeutics has a 1 year low of $1.55 and a 1 year high of $4.27. The firm has a market capitalization of $168.78 million, a P/E ratio of -3.66 and a beta of 0.62.

Galectin Therapeutics (NASDAQ:GALT) last released its 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 expect that Galectin Therapeutics will post -0.79 EPS for the current year.

Institutional Trading of Galectin Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in shares of Galectin Therapeutics during the second quarter worth $43,000. Rhumbline Advisers purchased a new position in shares of Galectin Therapeutics during the 2nd quarter valued at about $44,000. Retirement Guys Formula LLC lifted its holdings in shares of Galectin Therapeutics by 56.9% in the 1st quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock valued at $81,000 after buying an additional 12,232 shares during the period. Traynor Capital Management Inc. boosted 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 buying an additional 8,164 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Galectin Therapeutics during the second quarter worth about $146,000. 11.68% of the stock is currently owned by institutional investors and hedge funds.

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.