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

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

Separately, HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Galectin Therapeutics in a report on Friday, November 15th.

Galectin Therapeutics Stock Down 2.7 %

Shares of NASDAQ:GALT opened at $2.74 on Wednesday. The company has a market cap of $171.96 million, a P/E ratio of -3.75 and a beta of 0.62. The company’s fifty day moving average is $2.70 and its two-hundred day moving average is $2.60. Galectin Therapeutics has a 12-month low of $1.55 and a 12-month high of $4.27.

Hedge Funds Weigh In On Galectin Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its stake in shares of Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after acquiring an additional 367,610 shares in the last quarter. Soltis Investment Advisors LLC bought a new stake in shares of Galectin Therapeutics during the 3rd quarter worth $387,000. Sanctuary Advisors LLC bought a new position in Galectin Therapeutics in the 2nd quarter worth $227,000. Bank of New York Mellon Corp acquired a new position in Galectin Therapeutics during the 2nd quarter worth $146,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Galectin Therapeutics in the third quarter valued at about $117,000. 11.68% of the stock is currently owned by institutional investors.

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.