Galectin Therapeutics Inc. (NASDAQ:GALT) – Equities research analysts at B. Riley raised their Q2 2019 earnings per share (EPS) estimates for Galectin Therapeutics in a research note issued to investors on Monday, June 10th. B. Riley analyst M. Mamtani now anticipates that the company will post earnings of ($0.06) per share for the quarter, up from their prior forecast of ($0.10). B. Riley has a “Buy” rating and a $11.00 price target on the stock. B. Riley also issued estimates for Galectin Therapeutics’ Q3 2019 earnings at ($0.07) EPS, Q4 2019 earnings at ($0.09) EPS, FY2019 earnings at ($0.27) EPS, FY2020 earnings at ($0.41) EPS, FY2021 earnings at ($0.55) EPS, FY2022 earnings at ($0.86) EPS and FY2023 earnings at ($1.10) EPS.
Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, May 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.06.
GALT has been the subject of several other research reports. ValuEngine raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research upgraded Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Monday, March 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $9.42.
Shares of NASDAQ:GALT opened at $3.61 on Wednesday. Galectin Therapeutics has a 52-week low of $3.17 and a 52-week high of $9.49. The company has a market capitalization of $181.47 million, a price-to-earnings ratio of -9.50 and a beta of 3.31.
In other Galectin Therapeutics news, Director Richard E. Uihlein bought 20,700 shares of Galectin Therapeutics stock in a transaction dated Tuesday, April 9th. The stock was bought at an average cost of $4.82 per share, for a total transaction of $99,774.00. Following the purchase, the director now owns 2,628,489 shares in the company, valued at approximately $12,669,316.98. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard E. Uihlein bought 4,680,606 shares of Galectin Therapeutics stock in a transaction dated Friday, May 31st. The shares were acquired at an average price of $4.28 per share, with a total value of $20,032,993.68. Following the completion of the purchase, the director now owns 3,128,489 shares in the company, valued at approximately $13,389,932.92. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 4,704,160 shares of company stock valued at $20,145,208. Company insiders own 45.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in GALT. Vanguard Group Inc. lifted its stake in Galectin Therapeutics by 18.7% in the third quarter. Vanguard Group Inc. now owns 1,432,576 shares of the company’s stock valued at $8,609,000 after buying an additional 225,822 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Galectin Therapeutics by 45.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 40,950 shares of the company’s stock worth $140,000 after acquiring an additional 12,796 shares during the period. BlackRock Inc. grew its holdings in Galectin Therapeutics by 0.4% during the fourth quarter. BlackRock Inc. now owns 604,268 shares of the company’s stock worth $2,073,000 after acquiring an additional 2,611 shares during the period. Advisor Group Inc. boosted its position in shares of Galectin Therapeutics by 12.8% in the 4th quarter. Advisor Group Inc. now owns 674,291 shares of the company’s stock valued at $2,313,000 after purchasing an additional 76,489 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Galectin Therapeutics by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 227,175 shares of the company’s stock valued at $779,000 after purchasing an additional 15,410 shares during the period. Hedge funds and other institutional investors own 16.36% of the company’s stock.
About Galectin Therapeutics
Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, skin, and cancer diseases. The company's lead product candidate includes GR-MD-02 galectin-3 inhibitor, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.
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