Q3 2022 Earnings Forecast for Galecto, Inc. (NASDAQ:GLTO) Issued By SVB Leerink

Galecto, Inc. (NASDAQ:GLTOGet Rating) – Investment analysts at SVB Leerink raised their Q3 2022 earnings per share (EPS) estimates for shares of Galecto in a research note issued on Wednesday, August 3rd. SVB Leerink analyst T. Smith now forecasts that the company will earn ($0.68) per share for the quarter, up from their prior forecast of ($0.71). SVB Leerink has a “Outperform” rating and a $13.00 price objective on the stock. The consensus estimate for Galecto’s current full-year earnings is ($2.64) per share. SVB Leerink also issued estimates for Galecto’s Q4 2022 earnings at ($0.59) EPS, FY2022 earnings at ($2.53) EPS, FY2023 earnings at ($2.15) EPS, FY2024 earnings at ($2.40) EPS, FY2025 earnings at ($3.35) EPS and FY2026 earnings at ($2.69) EPS.

Galecto Price Performance

Shares of NASDAQ:GLTO opened at $2.09 on Friday. The company has a market capitalization of $53.08 million, a PE ratio of -0.88 and a beta of 0.19. The business has a fifty day moving average price of $1.77 and a two-hundred day moving average price of $1.93. Galecto has a 1 year low of $1.17 and a 1 year high of $4.75.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Galecto stock. Marquette Asset Management LLC lifted its position in shares of Galecto, Inc. (NASDAQ:GLTOGet Rating) by 25.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 45,765 shares of the company’s stock after acquiring an additional 9,265 shares during the quarter. Marquette Asset Management LLC owned approximately 0.18% of Galecto worth $101,000 at the end of the most recent quarter. Institutional investors own 39.81% of the company’s stock.

Galecto Company Profile

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Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB0139, an inhaled inhibitor of galectin-3 that is in Phase IIb clinical trial for the treatment of severe fibrotic lung diseases, such as idiopathic pulmonary fibrosis, a life-threatening progressive fibrotic disease of the lung; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.

Further Reading

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