Galena Biopharma Inc. (NASDAQ:GALE) had its price objective reduced by S&P Equity Research from $0.39 to $0.34 in a research report issued to clients and investors on Tuesday. S&P Equity Research’s target price would indicate a potential upside of 5.56% from the stock’s current price.

A number of other equities analysts also recently commented on GALE. Maxim Group reaffirmed a “buy” rating and set a $4.00 price objective on shares of Galena Biopharma in a report on Wednesday, June 1st. Noble Financial reaffirmed a “positive” rating and set a $3.50 price objective on shares of Galena Biopharma in a report on Wednesday, June 1st. FBR & Co reaffirmed a “buy” rating and set a $5.00 price objective on shares of Galena Biopharma in a report on Saturday, June 4th. Roth Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Galena Biopharma in a report on Thursday, June 9th. Finally, Raymond James Financial Inc. downgraded shares of 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 presently has a consensus rating of “Buy” and an average target price of $2.29.

Analyst Recommendations for Galena Biopharma (NASDAQ:GALE)

Galena Biopharma (NASDAQ:GALE) traded up 18.6898% on Tuesday, hitting $0.3823. 15,216,777 shares of the stock traded hands. Galena Biopharma has a 12-month low of $0.28 and a 12-month high of $2.49. The stock’s market cap 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 released its quarterly earnings data on Tuesday, August 9th. The biotechnology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. During the same quarter in the prior year, the company earned ($0.10) EPS. On average, equities analysts expect that Galena Biopharma will post ($0.12) EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in Galena Biopharma by 14.7% in the second quarter. State Street Corp now owns 2,753,970 shares of the biotechnology company’s stock valued at $1,284,000 after buying an additional 352,324 shares during the last quarter. Teachers Advisors Inc. boosted its stake in Galena Biopharma by 8.5% in the second quarter. Teachers Advisors Inc. now owns 281,597 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 22,170 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Galena Biopharma by 0.9% in the second quarter. BlackRock Fund Advisors now owns 4,766,441 shares of the biotechnology company’s stock valued at $2,222,000 after buying an additional 42,824 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Galena Biopharma by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 704,955 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 45,237 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Galena Biopharma by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,898,520 shares of the biotechnology company’s stock valued at $3,215,000 after buying an additional 153,637 shares during the last quarter. 14.46% of the stock is owned by hedge funds and other institutional investors.

About Galena Biopharma

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.

5 Day Chart for NASDAQ:GALE

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