Galecto (NASDAQ:GLTO) Raised to Strong-Buy at Lifesci Capital

Galecto (NASDAQ:GLTO) was upgraded by research analysts at Lifesci Capital to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on GLTO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galecto in a report on Monday, December 29th. Zacks Research upgraded shares of Galecto to a “hold” rating in a research report on Friday, January 9th. Guggenheim increased their price target on shares of Galecto from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 8th. Leerink Partners initiated coverage on shares of Galecto in a report on Wednesday, January 7th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, Wall Street Zen upgraded Galecto from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Galecto has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Galecto Stock Down 6.4%

NASDAQ GLTO opened at $25.61 on Monday. The stock has a market capitalization of $40.98 million, a P/E ratio of -2.12 and a beta of 1.42. Galecto has a 52-week low of $2.01 and a 52-week high of $38.33. The firm has a 50-day moving average price of $25.10 and a 200 day moving average price of $13.49.

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

Hedge Funds Weigh In On Galecto

A number of institutional investors have recently made changes to their positions in GLTO. Virtu Financial LLC purchased a new stake in shares of Galecto in the third quarter valued at $49,000. Two Sigma Investments LP acquired a new position in Galecto in the 3rd quarter valued at about $76,000. Connective Capital Management LLC purchased a new position in Galecto in the 3rd quarter valued at about $100,000. Finally, Sigma Planning Corp acquired a new stake in shares of Galecto during the 4th quarter worth about $334,000. 14.20% of the stock is owned by institutional investors and hedge funds.

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.