Today, Galectin Therapeutics Inc. (GALT) Rating Increased to Buy at The Zacks Investment Research

Today, Galectin Therapeutics Inc. (GALT) Rating Increased to Buy at The Zacks Investment Research
Zacks Investment Research upgraded shares of Galectin Therapeutics Inc. (NASDAQ:GALT) from a hold rating to a buy rating in a research report sent to investors on Monday. They currently have $1.00 price target on the stock.

According to Zacks, “Galectin Therapeutics Inc. is a drug development company engaged in the development new therapies for fibrotic disease and cancer. The Company uses its carbohydrate technology that targets galectin proteins, the key mediators of biologic and pathologic function. Galectin Therapeutics uses naturally occurring carbohydrate polymers with galactose residues to create complex carbohydrates with specific molecular weights. Galectin Therapeutics, formerly known as Pro-Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts. “

GALT has been the subject of several other research reports. HC Wainwright lowered shares of Galectin Therapeutics from a buy rating to a neutral rating and lowered their target price for the stock from $8.00 to $1.50 in a research note on Thursday, September 29th. FBR & Co lowered shares of Galectin Therapeutics from an outperform rating to a market perform rating and lowered their price objective for the company from $12.00 to $2.00 in a research note on Monday, October 3rd. Finally, Roth Capital reissued a sell rating and issued a $0.75 price objective (down previously from $3.00) on shares of Galectin Therapeutics in a research note on Wednesday, September 28th.

Shares of Galectin Therapeutics (NASDAQ:GALT) opened at 0.91 on Monday. Galectin Therapeutics has a 52-week low of $0.49 and a 52-week high of $3.05. The firm’s 50-day moving average is $0.84 and its 200 day moving average is $1.44. The stock’s market cap is $26.75 million.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its stake in shares of Galectin Therapeutics by 5.9% in the third quarter. D.A. Davidson & CO. now owns 602,731 shares of the company’s stock valued at $681,000 after buying an additional 33,382 shares during the period. Courage Capital Management LLC purchased a new stake in shares of Galectin Therapeutics during the third quarter valued at $147,000. KCG Holdings Inc. purchased a new stake in shares of Galectin Therapeutics during the third quarter valued at $114,000. Benchmark Capital Advisors boosted its stake in shares of Galectin Therapeutics by 98.3% in the third quarter. Benchmark Capital Advisors now owns 118,200 shares of the company’s stock valued at $134,000 after buying an additional 58,600 shares during the period. Finally, Advisor Group Inc. boosted its stake in shares of Galectin Therapeutics by 3.8% in the third quarter. Advisor Group Inc. now owns 413,125 shares of the company’s stock valued at $467,000 after buying an additional 15,200 shares during the period. 11.87% of the stock is owned by institutional investors and hedge funds.

Galectin Therapeutics Company Profile

Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The Company’s drug candidates are based on its method of targeting galectin proteins, which are mediators of biologic and pathologic functions.

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