Galectin Therapeutics Inc (NASDAQ:GALT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Galectin Therapeutics Inc. is a drug development company engaged in the development new therapies for fibrotic disease and cancer. The Company uses its carbohydrate technology that targets galectin proteins, the key mediators of biologic and pathologic function. Galectin Therapeutics uses naturally occurring carbohydrate polymers with galactose residues to create complex carbohydrates with specific molecular weights. Galectin Therapeutics, formerly known as Pro-Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts. “

Several other research analysts also recently weighed in on GALT. FBR & Co reiterated a “market perform” rating and set a $2.00 price target on shares of Galectin Therapeutics in a research note on Monday, April 3rd. HC Wainwright upgraded Galectin Therapeutics from a “neutral” rating to a “buy” rating and set a $3.50 price target for the company in a research note on Thursday, March 30th.

Galectin Therapeutics (NASDAQ:GALT) traded up 6.36% during midday trading on Friday, hitting $2.51. The stock had a trading volume of 194,577 shares. Galectin Therapeutics has a 52 week low of $0.49 and a 52 week high of $3.68. The company has a 50-day moving average price of $2.88 and a 200-day moving average price of $1.72. The stock’s market cap is $85.50 million.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Monday, May 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Equities analysts expect that Galectin Therapeutics will post ($0.56) EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of GALT. Buckingham Asset Management LLC purchased a new position in Galectin Therapeutics during the first quarter valued at $115,000. Cutter & CO Brokerage Inc. increased its position in Galectin Therapeutics by 57.2% in the first quarter. Cutter & CO Brokerage Inc. now owns 56,600 shares of the company’s stock valued at $130,000 after buying an additional 20,600 shares during the last quarter. KCG Holdings Inc. increased its position in Galectin Therapeutics by 1.9% in the first quarter. KCG Holdings Inc. now owns 86,195 shares of the company’s stock valued at $198,000 after buying an additional 1,592 shares during the last quarter. Morgan Stanley increased its position in Galectin Therapeutics by 1,284.5% in the first quarter. Morgan Stanley now owns 89,483 shares of the company’s stock valued at $206,000 after buying an additional 83,020 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Galectin Therapeutics by 0.7% in the first quarter. Geode Capital Management LLC now owns 109,011 shares of the company’s stock valued at $250,000 after buying an additional 774 shares during the last quarter. Institutional investors own 10.01% of the company’s stock.

Galectin Therapeutics Company Profile

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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