Galecto, Inc. (NASDAQ:GLTO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Galecto, Inc. (NASDAQ:GLTO) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $41.00.

A number of equities analysts recently commented on the company. Leerink Partners assumed coverage on Galecto in a report on Wednesday, January 7th. They set an “outperform” rating and a $46.00 target price for the company. Wall Street Zen upgraded shares of Galecto from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Leerink Partnrs raised shares of Galecto to a “strong-buy” rating in a research note on Wednesday, January 7th. Zacks Research upgraded shares of Galecto to a “hold” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galecto in a research report on Monday, December 29th.

Galecto Price Performance

NASDAQ GLTO opened at $24.98 on Tuesday. Galecto has a 1 year low of $2.01 and a 1 year high of $38.33. The stock has a market capitalization of $39.97 million, a PE ratio of -2.06 and a beta of 1.42. The business’s 50-day moving average is $23.79 and its 200 day moving average is $11.51.

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

Hedge Funds Weigh In On Galecto

A number of institutional investors have recently added to or reduced their stakes in GLTO. Connective Capital Management LLC purchased a new position in Galecto during the third quarter valued at $100,000. Virtu Financial LLC bought a new position in shares of Galecto in the 3rd quarter worth about $49,000. Finally, Two Sigma Investments LP purchased a new position in Galecto during the 3rd quarter valued at about $76,000. Institutional investors own 14.20% of the company’s stock.

Galecto Company Profile

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.