Galecto (NASDAQ:GLTO) Upgraded at Lifesci Capital

Lifesci Capital upgraded shares of Galecto (NASDAQ:GLTO) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded Galecto from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Galecto in a research note on Monday, December 29th. Guggenheim increased their price target on shares of Galecto from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Leerink Partners began coverage on shares of Galecto in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $46.00 price objective for the company. Finally, Zacks Research raised shares of Galecto to a “hold” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Galecto presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Galecto Stock Performance

Shares of GLTO stock opened at $23.78 on Monday. The firm has a market cap of $38.05 million, a P/E ratio of -1.97 and a beta of 1.42. The firm’s 50 day moving average price is $25.23 and its 200-day moving average price is $13.56. Galecto has a one year low of $2.01 and a one year high of $38.33.

Galecto (NASDAQ:GLTO) last announced its earnings results on Thursday, November 6th. The company reported ($2.36) earnings per share (EPS) for the quarter. As a group, research analysts predict that Galecto will post -15.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Connective Capital Management LLC acquired a new position in shares of Galecto during the third quarter worth $100,000. Two Sigma Investments LP purchased a new stake in Galecto during the 3rd quarter worth about $76,000. Sigma Planning Corp acquired a new position in shares of Galecto during the 4th quarter worth about $334,000. Finally, Virtu Financial LLC acquired a new position in shares of Galecto during the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 14.20% of the company’s stock.

Galecto Company Profile

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company’s research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.