Galecto (NASDAQ:GLTO) Given New $10.00 Price Target at Oppenheimer

Galecto (NASDAQ:GLTO - Get Free Report) had its price target hoisted by research analysts at Oppenheimer from $9.00 to $10.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 48.59% from the stock's previous close.

Galecto Price Performance

Shares of GLTO stock traded up $0.02 during trading hours on Thursday, reaching $6.73. 21,256 shares of the stock were exchanged, compared to its average volume of 16,589. The business's fifty day moving average is $11.50 and its two-hundred day moving average is $13.78. The firm has a market capitalization of $182.47 million, a P/E ratio of -5.90 and a beta of 1.16. Galecto has a 12-month low of $6.50 and a 12-month high of $23.50.

Galecto (NASDAQ:GLTO - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($4.00) earnings per share for the quarter, beating analysts' consensus estimates of ($8.00) by $4.00. As a group, equities research analysts predict that Galecto will post -18.75 earnings per share for the current fiscal year.

Galecto Company Profile

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.