HC Wainwright Reiterates Buy Rating for Galectin Therapeutics (NASDAQ:GALT)

HC Wainwright reissued their buy rating on shares of Galectin Therapeutics (NASDAQ:GALT) in a research note issued to investors on Friday,Benzinga reports. They currently have a $11.00 price objective 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 cut shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th.

Galectin Therapeutics Stock Down 2.9 %

GALT stock opened at $2.69 on Friday. The company has a market cap of $167.53 million, a price-to-earnings ratio of -3.68 and a beta of 0.62. Galectin Therapeutics has a twelve month low of $1.55 and a twelve month high of $4.27. The business has a 50 day moving average price of $2.69 and a two-hundred day moving average price of $2.61.

Hedge Funds Weigh In On Galectin Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Galectin Therapeutics by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after buying an additional 38,037 shares during the last quarter. Traynor Capital Management Inc. lifted its holdings in Galectin Therapeutics by 23.5% during the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after purchasing an additional 8,164 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Galectin Therapeutics during the second quarter worth $146,000. Commonwealth Equity Services LLC increased its holdings in shares of Galectin Therapeutics by 317.6% in the second 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 last quarter. Finally, Rhumbline Advisers bought a new position in shares of Galectin Therapeutics in the second quarter valued at about $44,000. Institutional investors 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.