Galectin Therapeutics (NASDAQ:GALT) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Galectin Therapeutics' stock (NASDAQ:GALT) recently surpassed its 200-day moving average, reaching a high of $3.84 before closing at $3.57 with significant trading volume.
• Analyst opinions are shifting, with Wall Street Zen upgrading the stock from "sell" to "hold" and HC Wainwright maintaining a "buy" rating with a target price of $6.00.
• The company reported a quarterly earnings surprise, posting an EPS of ($0.12), beating expectations by $0.04, while analysts predict an EPS of (-0.73) for the current year.

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.86 and traded as high as $3.84. Galectin Therapeutics shares last traded at $3.57, with a volume of 186,177 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Galectin Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. HC Wainwright reiterated a "buy" rating and set a $6.00 price target on shares of Galectin Therapeutics in a research report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $6.00.

Galectin Therapeutics Price Performance

The firm has a market cap of $248.55 million, a price-to-earnings ratio of -6.06 and a beta of 0.82. The stock has a 50-day moving average price of $2.95 and a 200 day moving average price of $1.94.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Galectin Therapeutics by 46.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company's stock worth $66,000 after buying an additional 16,412 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Galectin Therapeutics during the first quarter valued at approximately $287,000. Vivaldi Capital Management LP raised its holdings in shares of Galectin Therapeutics by 89.9% during the fourth quarter. Vivaldi Capital Management LP now owns 45,628 shares of the company's stock valued at $56,000 after buying an additional 21,596 shares during the last quarter. Barclays PLC raised its holdings in shares of Galectin Therapeutics by 91.1% during the fourth quarter. Barclays PLC now owns 54,634 shares of the company's stock valued at $71,000 after buying an additional 26,047 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Galectin Therapeutics by 4.3% during the 4th quarter. Northern Trust Corp now owns 244,274 shares of the company's stock valued at $315,000 after purchasing an additional 9,994 shares in the last quarter. 11.68% of the stock is currently owned by institutional investors and hedge funds.

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.