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Investment analysts at Maxim Group increased their target price on shares of Galena Biopharma (NASDAQ: GALE) from $5.00 to $6.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock.

Shares of Galena Biopharma (NASDAQ: GALE) traded down 1.28% during mid-day trading on Tuesday, hitting $1.93. Galena Biopharma has a 52 week low of $1.04 and a 52 week high of $3.54. The stock’s 50-day moving average is currently $1.89. The company’s market cap is $134.1 million.

Galena Biopharma (NASDAQ: GALE) last released its earnings data on Tuesday, March 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.09. Analysts expect that Galena Biopharma will post $-0.34 EPS for the current fiscal year.

A number of other firms have also recently commented on GALE. Analysts at Zacks reiterated an “outperform” rating on shares of Galena Biopharma in a research note to investors on Friday, February 8th. They now have a $4.00 price target on the stock. Analysts at Piper Jaffray initiated coverage on shares of Galena Biopharma in a research note to investors on Monday, December 31st. They set an “overweight” rating and a $2.50 price target on the stock.

Eight analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $4.69.

Galena Biopharma, Inc. (NASDAQ: GALE), formerly RXi Pharmaceuticals Corporation, is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using RNAi-targeted and immunotherapy technologies.

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