Galectin Therapeutics (GALT) Stock Rating Upgraded by Zacks Investment Research

Galectin Therapeutics (NASDAQ:GALT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $2.75 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 16.53% from the company’s previous close.

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 firms also recently commented on GALT. HC Wainwright lifted their target price on shares of Galectin Therapeutics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine upgraded shares of Galectin Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. Seaport Global Securities reiterated a “buy” rating and set a $5.00 target price on shares of Galectin Therapeutics in a research report on Friday, October 6th. Finally, Roth Capital initiated coverage on shares of Galectin Therapeutics in a research report on Thursday, October 19th. They set a “buy” rating and a $8.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $4.75.

Shares of Galectin Therapeutics (NASDAQ:GALT) traded down $0.20 during trading on Thursday, reaching $2.36. 473,958 shares of the company’s stock were exchanged, compared to its average volume of 358,145. Galectin Therapeutics has a 12-month low of $0.81 and a 12-month high of $3.68.

Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. equities analysts predict that Galectin Therapeutics will post -0.55 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in GALT. Vanguard Group Inc. raised its holdings in Galectin Therapeutics by 18.2% during the 2nd quarter. Vanguard Group Inc. now owns 871,510 shares of the company’s stock worth $2,144,000 after purchasing an additional 134,165 shares during the last quarter. Advisor Group Inc. raised its holdings in Galectin Therapeutics by 10.4% during the 2nd quarter. Advisor Group Inc. now owns 484,000 shares of the company’s stock worth $1,191,000 after purchasing an additional 45,700 shares during the last quarter. Virtu KCG Holdings LLC raised its holdings in Galectin Therapeutics by 24.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 107,203 shares of the company’s stock worth $264,000 after purchasing an additional 21,008 shares during the last quarter. Northern Trust Corp raised its holdings in Galectin Therapeutics by 4.4% during the 2nd quarter. Northern Trust Corp now owns 75,097 shares of the company’s stock worth $185,000 after purchasing an additional 3,176 shares during the last quarter. Finally, KCG Holdings Inc. raised its holdings in Galectin Therapeutics by 1.9% during the 1st quarter. KCG Holdings Inc. now owns 86,195 shares of the company’s stock worth $198,000 after purchasing an additional 1,592 shares during the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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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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