The Maxim Group Reiterates “$1.00” Price Target for Galena Biopharma Inc. (GALE)

The Maxim Group Reiterates “$1.00” Price Target for Galena Biopharma Inc. (GALE)

Maxim Group set a $1.00 price objective on Galena Biopharma Inc. (NASDAQ:GALE) in a report released on Monday morning. The brokerage currently has a a buy rating on the biotechnology company’s stock.

A number of other research analysts have also issued reports on the company. S&P Equity Research reduced their price objective on Galena Biopharma from $0.39 to $0.34 in a research report on Tuesday, September 20th. Zacks Investment Research upgraded Galena Biopharma from a sell rating to a hold rating in a research report on Friday, July 1st. FBR & Co reiterated an outperform rating and set a $2.00 price target on shares of Galena Biopharma in a research report on Tuesday, August 16th. Noble Financial lowered Galena Biopharma from a buy rating to a hold rating in a research report on Wednesday, June 29th. Finally, Raymond James Financial Inc. lowered Galena Biopharma from an outperform rating to a market perform rating in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $2.26.

Shares of Galena Biopharma (NASDAQ:GALE) opened at 0.2768 on Monday. The company’s 50 day moving average price is $0.36 and its 200-day moving average price is $0.99. Galena Biopharma has a 1-year low of $0.26 and a 1-year high of $2.49. The firm’s market cap is $59.23 million.

Galena Biopharma (NASDAQ:GALE) last released its quarterly earnings data on Tuesday, August 9th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.11. During the same period last year, the business posted ($0.10) EPS. Equities analysts expect that Galena Biopharma will post ($0.12) EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in Galena Biopharma by 14.7% in the second quarter. State Street Corp now owns 2,753,970 shares of the biotechnology company’s stock worth $1,284,000 after buying an additional 352,324 shares in the last quarter. Vanguard Group Inc. increased its stake in Galena Biopharma by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,898,520 shares of the biotechnology company’s stock worth $3,215,000 after buying an additional 153,637 shares in the last quarter. Geode Capital Management LLC increased its stake in Galena Biopharma by 11.2% in the first quarter. Geode Capital Management LLC now owns 1,227,715 shares of the biotechnology company’s stock worth $1,669,000 after buying an additional 123,736 shares in the last quarter. BlackRock Investment Management LLC increased its stake in Galena Biopharma by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 704,955 shares of the biotechnology company’s stock worth $329,000 after buying an additional 45,237 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in Galena Biopharma by 0.9% in the second quarter. BlackRock Fund Advisors now owns 4,766,441 shares of the biotechnology company’s stock worth $2,222,000 after buying an additional 42,824 shares in the last quarter. 14.42% of the stock is currently owned by institutional investors.

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