Galecto (NASDAQ:GLTO) Releases Earnings Results, Beats Expectations By $0.31 EPS

Galecto (NASDAQ:GLTO) issued its quarterly earnings results on Friday. The company reported ($3.39) earnings per share for the quarter, beating the consensus estimate of ($3.70) by $0.31, reports.

Galecto Price Performance

NASDAQ GLTO opened at $6.75 on Monday. The stock has a market capitalization of $7.36 million, a price-to-earnings ratio of -0.29 and a beta of 1.25. Galecto has a 1-year low of $6.50 and a 1-year high of $23.50. The business’s fifty day moving average price is $10.03 and its 200-day moving average price is $12.89.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer raised their price objective on shares of Galecto from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th.

Galecto Company Profile

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.