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

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

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

Galectin Therapeutics Trading Up 1.2 %

GALT stock opened at $2.63 on Tuesday. The stock has a market capitalization of $163.45 million, a P/E ratio of -3.55 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 firm has a 50-day moving average price of $2.56 and a 200-day moving average price of $2.73.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data 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). As a group, equities analysts predict that Galectin Therapeutics will post -0.79 EPS for the current fiscal year.

Institutional Trading of Galectin Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in Galectin Therapeutics during the 2nd quarter valued at approximately $227,000. Squarepoint Ops LLC increased its position in Galectin Therapeutics by 75.4% during the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock valued at $190,000 after purchasing an additional 36,139 shares during the period. Marshall Wace LLP acquired a new stake in Galectin Therapeutics during the 2nd quarter valued at approximately $43,000. Rhumbline Advisers acquired a new stake in Galectin Therapeutics during the 2nd quarter valued at approximately $44,000. Finally, Commonwealth Equity Services LLC increased its position in 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 period. Institutional investors and hedge funds own 11.68% of the company’s stock.

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.