FY2023 Earnings Estimate for Galecto, Inc. Issued By Leerink Partnrs (NASDAQ:GLTO)

Galecto, Inc. (NASDAQ:GLTOFree Report) – Stock analysts at Leerink Partnrs lifted their FY2023 earnings per share (EPS) estimates for shares of Galecto in a research note issued on Monday, February 5th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($1.56) for the year, up from their prior forecast of ($1.82). The consensus estimate for Galecto’s current full-year earnings is ($1.63) per share. Leerink Partnrs also issued estimates for Galecto’s Q4 2023 earnings at ($0.35) EPS, Q1 2024 earnings at ($0.41) EPS, Q2 2024 earnings at ($0.39) EPS, Q3 2024 earnings at ($0.18) EPS, Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($1.13) EPS, FY2025 earnings at ($0.87) EPS, FY2026 earnings at ($0.99) EPS and FY2027 earnings at ($1.25) EPS.

Galecto (NASDAQ:GLTOGet Free Report) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.17.

Galecto Stock Performance

Shares of NASDAQ:GLTO opened at $0.62 on Thursday. The stock’s fifty day simple moving average is $0.66 and its two-hundred day simple moving average is $0.86. Galecto has a 1-year low of $0.50 and a 1-year high of $3.70.

Institutional Investors Weigh In On Galecto

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Galecto by 1,541.4% in the 2nd quarter. BlackRock Inc. now owns 273,475 shares of the company’s stock worth $689,000 after acquiring an additional 256,814 shares during the last quarter. Geode Capital Management LLC increased its holdings in Galecto by 77.8% in the 2nd quarter. Geode Capital Management LLC now owns 193,691 shares of the company’s stock worth $488,000 after acquiring an additional 84,741 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Galecto by 9.1% in the 2nd quarter. Renaissance Technologies LLC now owns 246,711 shares of the company’s stock worth $427,000 after acquiring an additional 20,547 shares during the last quarter. Vanguard Group Inc. increased its holdings in Galecto by 48.9% in the 3rd quarter. Vanguard Group Inc. now owns 217,300 shares of the company’s stock worth $156,000 after acquiring an additional 71,342 shares during the last quarter. Finally, Susquehanna International Group LLP increased its holdings in Galecto by 31.3% in the 1st quarter. Susquehanna International Group LLP now owns 63,037 shares of the company’s stock worth $125,000 after acquiring an additional 15,016 shares during the last quarter. 29.40% of the stock is owned by hedge funds and other institutional investors.

Galecto Company Profile

(Get Free Report)

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB0139, an inhaled small molecule inhibitor of galectin-3 that is in Phase IIb clinical trial for the treatment of fibrotic lung diseases, such as idiopathic pulmonary fibrosis, a life-threatening progressive fibrotic disease of the lung; GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.

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Earnings History and Estimates for Galecto (NASDAQ:GLTO)

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