Galectin Therapeutics (NASDAQ:GALT) Given “Buy” Rating at HC Wainwright

Galectin Therapeutics (NASDAQ:GALT)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $11.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 300.00% from the company’s previous close.

Separately, StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday.

Galectin Therapeutics Stock Performance

Shares of GALT opened at $2.75 on Friday. Galectin Therapeutics has a one year low of $1.55 and a one year high of $4.27. The stock has a 50-day moving average price of $2.68 and a 200 day moving average price of $2.63. The company has a market capitalization of $171.27 million, a P/E ratio of -3.48 and a beta of 0.62.

Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). As a group, equities research analysts forecast that Galectin Therapeutics will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Galectin Therapeutics

Several institutional investors have recently added to or reduced their stakes in GALT. Vanguard Group Inc. boosted its position in Galectin Therapeutics by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after purchasing an additional 38,037 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Galectin Therapeutics by 317.6% during the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after acquiring an additional 367,610 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Galectin Therapeutics during the second quarter valued at $227,000. Squarepoint Ops LLC grew its position 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 acquiring an additional 36,139 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter worth about $146,000. Institutional investors 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.