Galectin Therapeutics (NASDAQ:GALT) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.
Separately, B. Riley assumed coverage on shares of Galectin Therapeutics in a research report on Wednesday, February 13th. They set a “buy” rating and a $11.00 price target for the company. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $11.50.
Get Galectin Therapeutics alerts:GALT stock opened at $6.02 on Wednesday. Galectin Therapeutics has a twelve month low of $3.10 and a twelve month high of $9.49. The company has a market cap of $233.26 million, a PE ratio of -12.29 and a beta of 3.76.
In other news, Director Gilbert F. Amelio sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $5.00, for a total transaction of $150,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard E. Uihlein acquired 51,500 shares of the firm’s stock in a transaction on Tuesday, January 29th. The stock was acquired at an average cost of $4.87 per share, with a total value of $250,805.00. Following the acquisition, the director now owns 2,538,289 shares of the company’s stock, valued at $12,361,467.43. The disclosure for this purchase can be found here. 45.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Galectin Therapeutics by 199.9% in the second quarter. BlackRock Inc. now owns 588,308 shares of the company’s stock valued at $3,742,000 after purchasing an additional 392,151 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Galectin Therapeutics in the second quarter valued at about $237,000. Wells Fargo & Company MN grew its position in shares of Galectin Therapeutics by 45.7% in the third quarter. Wells Fargo & Company MN now owns 58,471 shares of the company’s stock valued at $352,000 after purchasing an additional 18,336 shares during the period. D.A. Davidson & CO. grew its position in shares of Galectin Therapeutics by 5.0% in the third quarter. D.A. Davidson & CO. now owns 689,278 shares of the company’s stock valued at $4,143,000 after purchasing an additional 32,751 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Galectin Therapeutics in the third quarter valued at about $107,000. 15.08% of the stock is owned by hedge funds and other institutional investors.
Galectin Therapeutics Company Profile
Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic disease, skin disease, and cancer. The company's lead product candidate includes galectin-3 inhibitor (GR-MD-02), a galactoarabino-rhamnogalacturonan polysaccharide polymer for the treatment of liver fibrosis and liver cirrhosis in non-alcoholic steatohepatitis patients, as well as for the treatment of cancer.
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