Galena Biopharma Inc. (GALE) Price Target Lowered to $0.34 at S&P Equity Research
Galena Biopharma Inc. (NASDAQ:GALE) had its price objective decreased by analysts at S&P Equity Research from $0.39 to $0.34 in a research note issued on Tuesday. S&P Equity Research’s price objective would indicate a potential upside of 5.56% from the stock’s previous close.
Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Galena Biopharma from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 30th. FBR & Co reiterated an “outperform” rating and set a $2.00 price target on shares of Galena Biopharma in a report on Tuesday, August 16th. Maxim Group lowered their price target on Galena Biopharma from $2.00 to $1.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Noble Financial cut Galena Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Raymond James Financial Inc. cut Galena Biopharma from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 29th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $2.29.
Shares of Galena Biopharma (NASDAQ:GALE) traded up 18.6898% during trading on Tuesday, reaching $0.3823. 15,216,777 shares of the company’s stock were exchanged. Galena Biopharma has a 12-month low of $0.28 and a 12-month high of $2.49. The company’s market capitalization is $81.80 million. The stock has a 50-day moving average price of $0.41 and a 200 day moving average price of $1.07.
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Galena Biopharma (NASDAQ:GALE) last issued its earnings results on Tuesday, August 9th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.11. During the same period in the previous year, the firm earned ($0.10) earnings per share. Equities analysts expect that Galena Biopharma will post ($0.12) EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in GALE. State Street Corp boosted its position in shares of Galena Biopharma by 14.7% in the second quarter. State Street Corp now owns 2,753,970 shares of the biotechnology company’s stock worth $1,284,000 after buying an additional 352,324 shares during the period. Teachers Advisors Inc. boosted its position in shares of Galena Biopharma by 8.5% in the second quarter. Teachers Advisors Inc. now owns 281,597 shares of the biotechnology company’s stock worth $131,000 after buying an additional 22,170 shares during the period. BlackRock Fund Advisors boosted its position in shares of Galena Biopharma by 0.9% in the second quarter. BlackRock Fund Advisors now owns 4,766,441 shares of the biotechnology company’s stock worth $2,222,000 after buying an additional 42,824 shares during the period. BlackRock Investment Management LLC boosted its position in shares of Galena Biopharma by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 704,955 shares of the biotechnology company’s stock worth $329,000 after buying an additional 45,237 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Galena Biopharma by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,898,520 shares of the biotechnology company’s stock worth $3,215,000 after buying an additional 153,637 shares during the period. Institutional investors own 14.46% of the company’s stock.
Galena Biopharma Company Profile
Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.
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