Galectin Therapeutics (NASDAQ:GALT) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Galectin Therapeutics (NASDAQ:GALTGet Rating) in a report released on Friday. The firm set a “sell” rating on the stock.

Other analysts also recently issued reports about the company. HC Wainwright lowered their price target on Galectin Therapeutics from $14.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, May 17th. Zacks Investment Research downgraded Galectin Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st.

GALT stock opened at $1.44 on Friday. The company has a market cap of $85.52 million, a price-to-earnings ratio of -2.48 and a beta of 1.66. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 79.37. The business has a fifty day simple moving average of $1.49 and a 200-day simple moving average of $1.87. Galectin Therapeutics has a 52 week low of $1.19 and a 52 week high of $4.40.

Galectin Therapeutics (NASDAQ:GALTGet Rating) last announced its quarterly earnings results on Monday, May 16th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.07). As a group, analysts expect that Galectin Therapeutics will post -0.75 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of GALT. Atria Wealth Solutions Inc. purchased a new position in Galectin Therapeutics in the 1st quarter valued at about $460,000. Renaissance Technologies LLC boosted its holdings in Galectin Therapeutics by 2,033.5% in the fourth quarter. Renaissance Technologies LLC now owns 215,400 shares of the company’s stock worth $446,000 after purchasing an additional 205,304 shares during the period. Geode Capital Management LLC increased its stake in Galectin Therapeutics by 32.2% during the third quarter. Geode Capital Management LLC now owns 540,866 shares of the company’s stock valued at $2,098,000 after purchasing an additional 131,853 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Galectin Therapeutics by 15.8% during the fourth quarter. Millennium Management LLC now owns 405,601 shares of the company’s stock worth $840,000 after purchasing an additional 55,265 shares during the period. Finally, Synovus Financial Corp bought a new position in shares of Galectin Therapeutics in the 4th quarter worth about $99,000. 12.35% of the stock is owned by institutional investors.

About Galectin Therapeutics (Get Rating)

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. The company's lead product candidate is belapectin (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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