HC Wainwright Reaffirms “Buy” Rating for Galectin Therapeutics (NASDAQ:GALT)

HC Wainwright restated their buy rating on shares of Galectin Therapeutics (NASDAQ:GALT) in a research note published on Friday morning,Benzinga reports. The firm currently has a $11.00 target price on the stock. HC Wainwright also issued estimates for Galectin Therapeutics’ FY2027 earnings at $1.25 EPS and FY2028 earnings at $3.39 EPS.

Separately, StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday.

Galectin Therapeutics Price Performance

Shares of NASDAQ:GALT traded up $0.02 during midday trading on Friday, hitting $2.77. 219,074 shares of the company’s stock were exchanged, compared to its average volume of 145,910. The stock has a 50 day moving average price of $2.69 and a 200-day moving average price of $2.62. The company has a market cap of $172.52 million, a PE ratio of -3.51 and a beta of 0.62. Galectin Therapeutics has a 12 month low of $1.55 and a 12 month high of $4.27.

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 the consensus estimate of ($0.16) by ($0.04). On average, analysts anticipate that Galectin Therapeutics will post -0.79 EPS for the current fiscal year.

Institutional Trading of Galectin Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its holdings 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 acquiring an additional 367,610 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Galectin Therapeutics during the 2nd quarter worth approximately $227,000. Bank of New York Mellon Corp purchased a new stake in Galectin Therapeutics in the 2nd quarter worth approximately $146,000. Kovitz Investment Group Partners LLC bought a new position in Galectin Therapeutics in the 3rd quarter valued at $117,000. Finally, Vanguard Group Inc. grew its position in shares of Galectin Therapeutics by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after purchasing an additional 38,037 shares in the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

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.