StockNews.com Upgrades Galectin Therapeutics (NASDAQ:GALT) to “Hold”

StockNews.com upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a sell rating to a hold rating in a report published on Tuesday morning.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Galectin Therapeutics in a research note on Friday, August 16th.

Galectin Therapeutics Stock Up 0.4 %

Shares of NASDAQ:GALT opened at $2.67 on Tuesday. Galectin Therapeutics has a 52-week low of $1.55 and a 52-week high of $4.27. The stock has a market cap of $166.29 million, a P/E ratio of -3.38 and a beta of 0.61. The business has a fifty day moving average of $2.59 and a two-hundred day moving average of $2.73.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). On average, equities analysts anticipate that Galectin Therapeutics will post -0.79 earnings per share for the current year.

Institutional Trading of Galectin Therapeutics

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Galectin Therapeutics by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after buying an additional 38,037 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares during the period. Wealthspire Advisors LLC grew its stake in shares of Galectin Therapeutics by 116.7% in the 1st quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock valued at $952,000 after purchasing an additional 214,512 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Galectin Therapeutics in the second quarter valued at approximately $227,000. Finally, Squarepoint Ops LLC raised its stake in shares of Galectin Therapeutics by 75.4% during the second quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after purchasing an additional 36,139 shares during the last quarter. Institutional investors and hedge funds own 11.68% 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, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.