Galecto (NASDAQ:GLTO) PT Raised to $10.00 at Oppenheimer

Galecto (NASDAQ:GLTO) had its target price raised by investment analysts at Oppenheimer from $9.00 to $10.00 in a research report issued on Thursday, MarketBeat.com reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 40.45% from the company’s previous close.

Galecto Stock Up 5.8 %

GLTO opened at $7.12 on Thursday. The firm has a market cap of $193.04 million, a price-to-earnings ratio of -6.25 and a beta of 1.16. Galecto has a 52 week low of $6.50 and a 52 week high of $23.50. The business’s 50 day moving average is $11.38 and its two-hundred day moving average is $13.70.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings results on Monday, August 12th. The company reported ($4.00) earnings per share for the quarter, topping the consensus estimate of ($8.00) by $4.00. Equities analysts expect that Galecto will post -18.75 EPS for the current fiscal year.

About Galecto

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.