Today, Galectin Therapeutics Inc. (GALT) Stock Rating Upgrade by The Zacks Investment Research

Today, Galectin Therapeutics Inc. (GALT) Stock Rating Upgrade by The Zacks Investment Research

Galectin Therapeutics Inc. (NASDAQ:GALT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $1.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 11.11% from the stock’s current price.

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. “

A number of other brokerages also recently weighed in on GALT. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 4th. FBR & Co reiterated a “buy” rating and issued a $12.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 11th. Finally, Roth Capital reiterated a “sell” rating and issued a $0.75 price objective (down previously from $3.00) on shares of Galectin Therapeutics in a research report on Wednesday, September 28th.

Galectin Therapeutics (NASDAQ:GALT) traded up 1.11% on Monday, reaching $0.90. The company had a trading volume of 88,966 shares. Galectin Therapeutics has a 1-year low of $0.49 and a 1-year high of $3.05. The company’s 50-day moving average price is $0.83 and its 200 day moving average price is $1.43. The firm’s market capitalization is $26.46 million.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position in 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 bought a new position in Galectin Therapeutics during the third quarter valued at $147,000. KCG Holdings Inc. bought a new position in Galectin Therapeutics during the third quarter valued at $114,000. Benchmark Capital Advisors increased its position in 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. increased its position in 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. Hedge funds and other institutional investors own 10.19% of the company’s stock.

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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