Galectin Therapeutics (NASDAQ:GALT) Now Covered by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Galectin Therapeutics (NASDAQ:GALT) in a report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $6.00 price objective on the stock.

Galectin Therapeutics Trading Up 60.4%

Shares of GALT opened at $2.39 on Tuesday. Galectin Therapeutics has a twelve month low of $0.73 and a twelve month high of $3.17. The firm’s fifty day simple moving average is $1.35 and its 200-day simple moving average is $1.43. The firm has a market capitalization of $151.26 million, a price-to-earnings ratio of -3.32 and a beta of 0.54.

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

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new position in shares of Galectin Therapeutics in the 4th quarter valued at $26,000. Inspire Advisors LLC grew its position in shares of Galectin Therapeutics by 86.3% in the 4th quarter. Inspire Advisors LLC now owns 21,095 shares of the company’s stock valued at $27,000 after buying an additional 9,772 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Galectin Therapeutics in the 4th quarter valued at $29,000. Nuveen LLC purchased a new position in shares of Galectin Therapeutics in the 1st quarter valued at $34,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Galectin Therapeutics in the 4th quarter valued at $37,000. 11.68% of the stock is currently owned by institutional investors and hedge funds.

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.