Galectin Therapeutics (NASDAQ:GALT) Announces Quarterly Earnings Results

Galectin Therapeutics (NASDAQ:GALT) announced its quarterly earnings data on Monday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports.

Galectin Therapeutics Trading Down 19.7 %

Galectin Therapeutics stock opened at $1.22 on Tuesday. The stock has a 50 day moving average of $1.45 and a 200-day moving average of $1.97. The stock has a market cap of $76.57 million, a P/E ratio of -1.67 and a beta of 0.69. Galectin Therapeutics has a 52 week low of $0.73 and a 52 week high of $4.27.

Institutional Investors Weigh In On Galectin Therapeutics

An institutional investor recently raised its position in Galectin Therapeutics stock. Bank of America Corp DE increased its holdings in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 101.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,358 shares of the company’s stock after acquiring an additional 19,316 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Galectin Therapeutics worth $49,000 at the end of the most recent quarter. 11.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, December 30th. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research note on Friday, December 27th.

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.