Analysts Set Galecto, Inc. (NASDAQ:GLTO) PT at $41.00

Galecto, Inc. (NASDAQ:GLTO) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $41.00.

A number of equities research analysts recently weighed in on the company. Guggenheim boosted their price objective on Galecto from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Leerink Partners started coverage on Galecto in a research note on Wednesday, January 7th. They set an “outperform” rating and a $46.00 price target on the stock. Zacks Research raised Galecto to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Galecto in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Galecto from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Galecto in the 3rd quarter valued at about $49,000. Two Sigma Investments LP bought a new position in shares of Galecto in the third quarter valued at $76,000. Finally, Connective Capital Management LLC bought a new stake in Galecto during the 3rd quarter worth approximately $100,000. Institutional investors and hedge funds own 14.20% of the company’s stock.

Galecto Price Performance

GLTO stock opened at $23.95 on Tuesday. The stock has a market cap of $38.32 million, a price-to-earnings ratio of -1.98 and a beta of 1.42. The company has a 50 day simple moving average of $23.39 and a 200 day simple moving average of $11.30. Galecto has a 1 year low of $2.01 and a 1 year high of $38.33.

Galecto (NASDAQ:GLTO) last posted its earnings results on Thursday, November 6th. The company reported ($2.36) earnings per share for the quarter. On average, equities research analysts anticipate that Galecto will post -15.91 EPS for the current fiscal year.

About Galecto

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company’s research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.