Galectin Therapeutics' (GALT) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has reiterated a "buy" rating for Galectin Therapeutics (GALT) with a price target of $6.00, suggesting a potential upside of 62.65%.
• Galectin Therapeutics has experienced a 0.5% increase in stock price, reaching $3.69, with a market capitalization of $233.48 million.
• Institutional investors have shown increased interest, with Wealth Enhancement Advisory Services LLC lifting its position by 46.8% and Barclays PLC growing its stake by 91.1% in the fourth quarter.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 62.65% from the stock's previous close.

Separately, Wall Street Zen raised Galectin Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st.

Galectin Therapeutics Stock Up 0.5%

Shares of Galectin Therapeutics stock traded up $0.02 during trading hours on Thursday, reaching $3.69. 129,798 shares of the stock traded hands, compared to its average volume of 415,929. The company has a 50 day moving average price of $2.65 and a 200 day moving average price of $1.83. The firm has a market capitalization of $233.48 million, a price-to-earnings ratio of -5.12 and a beta of 0.82. Galectin Therapeutics has a one year low of $0.73 and a one year high of $4.41.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. Sell-side analysts anticipate that Galectin Therapeutics will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

Several institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Galectin Therapeutics by 46.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company's stock worth $66,000 after purchasing an additional 16,412 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Galectin Therapeutics during the first quarter valued at about $287,000. Vivaldi Capital Management LP raised its holdings in shares of Galectin Therapeutics by 89.9% in the fourth quarter. Vivaldi Capital Management LP now owns 45,628 shares of the company's stock worth $56,000 after buying an additional 21,596 shares during the last quarter. Barclays PLC grew its stake in Galectin Therapeutics by 91.1% during the 4th quarter. Barclays PLC now owns 54,634 shares of the company's stock valued at $71,000 after purchasing an additional 26,047 shares during the last quarter. Finally, Northern Trust Corp raised its position in Galectin Therapeutics by 4.3% during the 4th quarter. Northern Trust Corp now owns 244,274 shares of the company's stock worth $315,000 after buying an additional 9,994 shares during the last quarter. Institutional investors own 11.68% of the company's stock.

Galectin Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.