Zacks: Galectin Therapeutics Inc. (GALT) Receives Consensus Rating of “Sell” from Analysts
Galectin Therapeutics Inc. (NASDAQ:GALT) has earned an average broker rating score of 3.67 (Sell) from the three brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation and two have assigned a hold recommendation to the company. Galectin Therapeutics’ rating score has declined by 267% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus target price of $1.42 for the company and are predicting that the company will post ($0.22) earnings per share for the current quarter, according to Zacks. Zacks has also given Galectin Therapeutics an industry rank of 108 out of 265 based on the ratings given to related companies.
A number of equities analysts recently weighed in on GALT shares. HC Wainwright cut Galectin Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.00 to $1.50 in a report on Thursday, September 29th. FBR & Co cut Galectin Therapeutics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $12.00 to $2.00 in a report on Monday, October 3rd. Roth Capital started coverage on Galectin Therapeutics in a report on Friday, July 1st. They set a “buy” rating for the company. Finally, Zacks Investment Research cut Galectin Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 3rd.
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Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04.
Large investors have recently bought and sold shares of the stock. Advisor Group Inc. bought a new stake in Galectin Therapeutics during the second quarter worth about $584,000. BlackRock Fund Advisors raised its stake in Galectin Therapeutics by 33.8% in the second quarter. BlackRock Fund Advisors now owns 78,955 shares of the company’s stock worth $116,000 after buying an additional 19,967 shares during the period. Finally, Vanguard Group Inc. raised its stake in Galectin Therapeutics by 0.4% in the second quarter. Vanguard Group Inc. now owns 606,537 shares of the company’s stock worth $892,000 after buying an additional 2,490 shares during the period. Institutional investors and hedge funds own 11.66% of the company’s stock.
About Galectin Therapeutics
Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The Company’s drug candidates are based on its method of targeting galectin proteins, which are mediators of biologic and pathologic functions.
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