Galena Biopharma Inc. (GALE) PT Set at $1.00 by Maxim Group
Galena Biopharma Inc. (NASDAQ:GALE) has been assigned a $1.00 price target by equities research analysts at Maxim Group in a research report issued on Monday. The brokerage currently has a a “buy” rating on the biotechnology company’s stock. Maxim Group’s target price would indicate a potential upside of 230.47% from the company’s previous close.
A number of other research analysts also recently issued reports on the company. S&P Equity Research cut their price target on Galena Biopharma from $0.39 to $0.34 in a report on Tuesday, September 20th. Zacks Investment Research downgraded Galena Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 30th. FBR & Co restated an “outperform” rating and set a $2.00 target price on shares of Galena Biopharma in a research note on Tuesday, August 16th. Noble Financial downgraded Galena Biopharma from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Raymond James Financial Inc. downgraded Galena Biopharma from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 29th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Galena Biopharma currently has an average rating of “Buy” and a consensus price target of $2.29.
Shares of Galena Biopharma (NASDAQ:GALE) traded down 5.6180% during mid-day trading on Monday, reaching $0.2856. The company’s stock had a trading volume of 4,169,778 shares. Galena Biopharma has a 12-month low of $0.28 and a 12-month high of $2.49. The firm’s market cap is $61.11 million. The firm’s 50-day moving average price is $0.37 and its 200 day moving average price is $1.00.
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Galena Biopharma (NASDAQ:GALE) last announced its quarterly earnings results on Tuesday, August 9th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.11. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, analysts expect that Galena Biopharma will post ($0.12) EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 valued at $3,215,000 after buying an additional 153,637 shares in the last quarter. BlackRock Fund Advisors raised 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 period. State Street Corp raised 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 period. Geode Capital Management LLC raised its stake in Galena Biopharma by 11.2% in the first quarter. Geode Capital Management LLC now owns 1,227,715 shares of the biotechnology company’s stock valued at $1,669,000 after buying an additional 123,736 shares during the period. Finally, BlackRock Investment Management LLC raised 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 period. Hedge funds and other institutional investors own 14.42% 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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