Wall Street Zen Upgrades Galectin Therapeutics (NASDAQ:GALT) to “Hold”

Galectin Therapeutics (NASDAQ:GALT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings cut Galectin Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Galectin Therapeutics Stock Performance

NASDAQ GALT opened at $2.67 on Friday. The stock has a market capitalization of $175.85 million, a P/E ratio of -6.51 and a beta of 0.47. Galectin Therapeutics has a 1 year low of $1.33 and a 1 year high of $7.13. The business’s fifty day moving average is $2.38 and its two-hundred day moving average is $3.26.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). On average, research analysts forecast that Galectin Therapeutics will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Galectin Therapeutics by 114.9% in the 1st quarter. Bank of America Corp DE now owns 53,862 shares of the company’s stock worth $150,000 after acquiring an additional 28,799 shares in the last quarter. Vivaldi Capital Management LP lifted its stake in Galectin Therapeutics by 26.7% in the 1st quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock worth $721,000 after acquiring an additional 54,514 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Galectin Therapeutics in the 1st quarter valued at approximately $413,000. Sovran Advisors LLC increased its stake in Galectin Therapeutics by 14.1% in the 1st quarter. Sovran Advisors LLC now owns 257,830 shares of the company’s stock valued at $719,000 after buying an additional 31,956 shares during the period. Finally, Tulsa Wealth Advisors INC acquired a new position in Galectin Therapeutics in the 4th quarter valued at approximately $97,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

About Galectin Therapeutics

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.