Oppenheimer Boosts Galecto (NASDAQ:GLTO) Price Target to $10.00

Galecto (NASDAQ:GLTO) had its target price lifted by Oppenheimer from $9.00 to $10.00 in a report issued on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

Galecto Stock Performance

Shares of NASDAQ:GLTO opened at $7.12 on Thursday. The company has a market capitalization of $193.04 million, a PE ratio of -6.25 and a beta of 1.16. The company’s fifty day moving average is $11.38 and its 200-day moving average is $13.66. Galecto has a 52 week low of $6.50 and a 52 week high of $23.50.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings data on Monday, August 12th. The company reported ($4.00) earnings per share for the quarter, topping the consensus estimate of ($8.00) by $4.00. On average, analysts forecast that Galecto will post -18.75 EPS for the current year.

Galecto Company Profile

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 GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and 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.