Galecto, Inc. (NASDAQ:GLTO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Galecto, Inc. (NASDAQ:GLTO) have received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $41.00.

GLTO has been the topic of several recent research reports. Guggenheim lifted their price objective on shares of Galecto from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Leerink Partners assumed coverage on shares of Galecto in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $46.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Galecto in a research report on Monday, December 29th. Lifesci Capital upgraded Galecto to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Zacks Research raised Galecto to a “hold” rating in a research note on Friday, January 9th.

Institutional Trading of Galecto

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLTO. Connective Capital Management LLC acquired a new position in Galecto in the third quarter worth approximately $100,000. Two Sigma Investments LP bought a new stake in shares of Galecto during the 3rd quarter worth $76,000. Sigma Planning Corp bought a new stake in shares of Galecto during the 4th quarter worth $334,000. Finally, Virtu Financial LLC acquired a new position in shares of Galecto in the 3rd quarter worth $49,000. 14.20% of the stock is owned by institutional investors and hedge funds.

Galecto Price Performance

Shares of NASDAQ GLTO opened at $25.26 on Friday. The firm has a market capitalization of $40.42 million, a PE ratio of -2.09 and a beta of 1.42. Galecto has a 1-year low of $2.01 and a 1-year high of $38.33. The business’s fifty day moving average price is $25.49 and its two-hundred day moving average price is $13.77.

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

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.