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

Galectin Therapeutics (NASDAQ:GALT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, HC Wainwright assumed coverage on shares of Galectin Therapeutics in a research report on Tuesday. They set a “buy” rating and a $6.00 price target for the company.

Galectin Therapeutics Price Performance

Shares of GALT opened at $2.42 on Friday. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $3.90. The stock has a market cap of $153.16 million, a PE ratio of -3.36 and a beta of 0.54. The firm has a 50-day simple moving average of $1.45 and a two-hundred day simple moving average of $1.44.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings results 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. As a group, sell-side analysts expect that Galectin Therapeutics will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GALT. Bank of New York Mellon Corp grew its holdings in shares of Galectin Therapeutics by 19.0% in the fourth quarter. Bank of New York Mellon Corp now owns 50,826 shares of the company’s stock valued at $66,000 after purchasing an additional 8,105 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Galectin Therapeutics in the fourth quarter valued at approximately $26,000. Inspire Advisors LLC grew its holdings in shares of Galectin Therapeutics by 86.3% in the fourth quarter. Inspire Advisors LLC now owns 21,095 shares of the company’s stock valued at $27,000 after purchasing an additional 9,772 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Galectin Therapeutics in the fourth quarter valued at approximately $29,000. Finally, LPL Financial LLC grew its holdings in shares of Galectin Therapeutics by 69.6% in the fourth quarter. LPL Financial LLC now owns 138,928 shares of the company’s stock valued at $179,000 after purchasing an additional 57,020 shares in the last quarter. Institutional investors and hedge funds own 11.68% of the company’s stock.

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.