Galectin Therapeutics (NASDAQ:GALT) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Galectin Therapeutics (NASDAQ:GALT - Free Report) in a report released on Friday,Benzinga reports. HC Wainwright currently has a $11.00 target price on the stock.

Separately, StockNews.com lowered shares of Galectin Therapeutics from a "hold" rating to a "sell" rating in a report on Tuesday.

Galectin Therapeutics Price Performance

Shares of NASDAQ:GALT traded up $0.02 during mid-day trading on Friday, reaching $2.77. 219,057 shares of the company were exchanged, compared to its average volume of 145,910. The firm has a market cap of $172.52 million, a price-to-earnings ratio of -3.48 and a beta of 0.62. The firm's 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.63. Galectin Therapeutics has a 1 year low of $1.55 and a 1 year high of $4.27.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). On average, research analysts forecast that Galectin Therapeutics will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GALT. Vanguard Group Inc. boosted its holdings in Galectin Therapeutics by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company's stock worth $4,732,000 after buying an additional 38,037 shares in the last quarter. Traynor Capital Management Inc. boosted its holdings in Galectin Therapeutics by 23.5% during the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company's stock worth $97,000 after buying an additional 8,164 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Galectin Therapeutics during the second quarter worth about $146,000. Commonwealth Equity Services LLC boosted its holdings in Galectin Therapeutics by 317.6% during the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company's stock worth $1,092,000 after buying an additional 367,610 shares in the last quarter. Finally, Rhumbline Advisers purchased a new stake in Galectin Therapeutics during the second quarter worth about $44,000. 11.68% of the stock is currently owned by institutional investors and hedge funds.

Galectin Therapeutics Company Profile

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.