Galectin Therapeutics (NASDAQ:GALT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Other analysts have also recently issued research reports about the company. HC Wainwright lifted their price objective on Galectin Therapeutics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, November 28th. Roth Capital initiated coverage on Galectin Therapeutics in a research report on Thursday, October 19th. They set a “buy” rating and a $8.00 price objective for the company. Finally, ValuEngine cut Galectin Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.55.
Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. equities analysts expect that Galectin Therapeutics will post -0.52 earnings per share for the current fiscal year.
In related news, Director James C. Czirr sold 205,144 shares of Galectin Therapeutics stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $5.45, for a total transaction of $1,118,034.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Fund L.P. 10X sold 244,444 shares of Galectin Therapeutics stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $5.43, for a total value of $1,327,330.92. The disclosure for this sale can be found here. Company insiders own 38.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GALT. Northern Trust Corp grew its holdings in Galectin Therapeutics by 4.4% in the 2nd quarter. Northern Trust Corp now owns 75,097 shares of the company’s stock valued at $185,000 after buying an additional 3,176 shares during the period. Vanguard Group Inc. grew its holdings in Galectin Therapeutics by 18.2% in the 2nd quarter. Vanguard Group Inc. now owns 871,510 shares of the company’s stock valued at $2,144,000 after buying an additional 134,165 shares during the period. Virtu KCG Holdings LLC grew its holdings in Galectin Therapeutics by 24.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 107,203 shares of the company’s stock valued at $264,000 after buying an additional 21,008 shares during the period. Finally, Advisor Group Inc. grew its holdings in Galectin Therapeutics by 7.4% in the 3rd quarter. Advisor Group Inc. now owns 519,850 shares of the company’s stock valued at $1,112,000 after buying an additional 35,850 shares during the period. Institutional investors own 10.66% of the company’s stock.
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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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