Galectin Therapeutics (NASDAQ:GALT) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a research note published on Saturday.

Separately, HC Wainwright reissued a buy rating and issued a $11.00 price objective on shares of Galectin Therapeutics in a research report on Friday, August 16th.

Galectin Therapeutics Stock Down 1.1 %

Shares of NASDAQ:GALT opened at $2.72 on Friday. The company has a market cap of $169.04 million, a price-to-earnings ratio of -3.68 and a beta of 0.62. The firm’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $2.71. Galectin Therapeutics has a fifty-two week low of $1.55 and a fifty-two week high of $4.27.

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

Hedge Funds Weigh In On Galectin Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in Galectin Therapeutics during the second quarter worth approximately $43,000. Rhumbline Advisers purchased a new stake in Galectin Therapeutics during the second quarter worth approximately $44,000. Retirement Guys Formula LLC grew its stake in Galectin Therapeutics by 56.9% during the first quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after buying an additional 12,232 shares during the period. Traynor Capital Management Inc. grew its stake in Galectin Therapeutics by 23.5% during the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after buying an additional 8,164 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Galectin Therapeutics during the second quarter worth approximately $146,000. 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.