Galectin Therapeutics (NASDAQ:GALT) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Galectin Therapeutics (NASDAQ:GALT - Free Report) from a sell rating to a hold rating in a research report released on Saturday morning.

Separately, HC Wainwright began coverage on Galectin Therapeutics in a report on Tuesday, June 17th. They issued a "buy" rating and a $6.00 price objective for the company.

Galectin Therapeutics Stock Down 2.4%

Galectin Therapeutics stock traded down $0.06 during trading hours on Friday, hitting $2.42. 541,649 shares of the company traded hands, compared to its average volume of 409,317. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $3.90. The firm has a market cap of $153.16 million, a P/E ratio of -3.36 and a beta of 0.54. The firm's 50-day simple moving average is $1.48 and its two-hundred day simple moving average is $1.44.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.05. On average, equities research analysts predict that Galectin Therapeutics will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Galectin Therapeutics in the first quarter worth about $287,000. LPL Financial LLC boosted its stake in Galectin Therapeutics by 69.6% in the 4th quarter. LPL Financial LLC now owns 138,928 shares of the company's stock worth $179,000 after purchasing an additional 57,020 shares during the period. HighTower Advisors LLC grew its position in Galectin Therapeutics by 244.1% during the 1st quarter. HighTower Advisors LLC now owns 77,375 shares of the company's stock worth $94,000 after purchasing an additional 54,889 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Galectin Therapeutics by 8.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 423,235 shares of the company's stock valued at $516,000 after purchasing an additional 34,300 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Galectin Therapeutics by 94.9% in the fourth quarter. JPMorgan Chase & Co. now owns 59,693 shares of the company's stock valued at $77,000 after purchasing an additional 29,065 shares in the last quarter. Institutional investors and hedge funds 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.