Zacks: Brokerages Anticipate Galena Biopharma Inc (GALE) to Post -$0.15 EPS
Wall Street brokerages expect Galena Biopharma Inc (NASDAQ:GALE) to post earnings of ($0.15) per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Galena Biopharma’s earnings. Galena Biopharma reported earnings of $1.20 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 112.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Galena Biopharma will report full year earnings of ($0.56) per share for the current year. For the next year, analysts expect that the business will report earnings of ($0.86) per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Galena Biopharma.
Galena Biopharma (NASDAQ:GALE) last issued its earnings results on Wednesday, May 10th. The biotechnology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.13. During the same quarter last year, the company posted ($0.07) EPS.
Several equities research analysts recently issued reports on GALE shares. Zacks Investment Research raised shares of Galena Biopharma from a “hold” rating to a “strong-buy” rating and set a $0.75 price target on the stock in a research note on Monday, March 20th. FBR & Co downgraded shares of Galena Biopharma from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $11.00 to $4.00 in a research note on Monday, February 6th. Finally, Maxim Group downgraded shares of Galena Biopharma from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.93.
Galena Biopharma (NASDAQ:GALE) opened at 0.5926 on Thursday. Galena Biopharma has a 52 week low of $0.52 and a 52 week high of $49.80. The company’s 50 day moving average is $0.58 and its 200-day moving average is $1.32. The firm’s market cap is $22.18 million.
An institutional investor recently bought a new position in Galena Biopharma stock. Renaissance Technologies LLC bought a new stake in Galena Biopharma Inc (NASDAQ:GALE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,600,275 shares of the biotechnology company’s stock, valued at approximately $976,000. Renaissance Technologies LLC owned approximately 4.45% of Galena Biopharma at the end of the most recent reporting period.
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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