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

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

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

Galectin Therapeutics Stock Down 2.6 %

GALT opened at $2.63 on Tuesday. The firm has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $2.73. Galectin Therapeutics has a 52 week low of $1.55 and a 52 week high of $4.27. The company has a market capitalization of $163.45 million, a PE ratio of -3.55 and a beta of 0.61.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). As a group, sell-side analysts expect that Galectin Therapeutics will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in shares of Galectin Therapeutics in the 2nd quarter valued at about $227,000. Squarepoint Ops LLC raised its position in Galectin Therapeutics by 75.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after purchasing an additional 36,139 shares during the period. Marshall Wace LLP purchased a new stake in Galectin Therapeutics in the 2nd quarter worth about $43,000. Rhumbline Advisers purchased a new stake in Galectin Therapeutics in the 2nd quarter worth about $44,000. Finally, Commonwealth Equity Services LLC raised its position 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 purchasing an additional 367,610 shares during the period. Institutional investors own 11.68% of the company’s stock.

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.