Galectin Therapeutics (NASDAQ:GALT) Earns Buy Rating from 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.

HC Wainwright reiterated their buy rating on shares of Galectin Therapeutics (NASDAQ:GALT - Free Report) in a report issued on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock.

Separately, Wall Street Zen raised shares of Galectin Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $6.00.

Galectin Therapeutics Price Performance

NASDAQ GALT traded down $0.15 during mid-day trading on Thursday, reaching $3.75. The stock had a trading volume of 181,258 shares, compared to its average volume of 301,409. The company has a fifty day moving average price of $2.85 and a 200 day moving average price of $1.90. Galectin Therapeutics has a 1 year low of $0.73 and a 1 year high of $4.41. The stock has a market cap of $240.23 million, a PE ratio of -5.86 and a beta of 0.82.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. As a group, equities research analysts expect that Galectin Therapeutics will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

Large investors have recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Galectin Therapeutics during the 1st quarter valued at approximately $34,000. Two Sigma Securities LLC purchased a new position in Galectin Therapeutics during the fourth quarter valued at approximately $37,000. Bank of America Corp DE lifted its holdings in Galectin Therapeutics by 101.4% in the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company's stock valued at $49,000 after acquiring an additional 19,316 shares during the period. Vivaldi Capital Management LP grew its stake in shares of Galectin Therapeutics by 89.9% during the 4th quarter. Vivaldi Capital Management LP now owns 45,628 shares of the company's stock worth $56,000 after purchasing an additional 21,596 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Galectin Therapeutics during the second quarter valued at $64,000. Hedge funds and other 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.