Galectin Therapeutics (GALT) Stock Price Up 21.8%

Shares of Galectin Therapeutics Inc (NASDAQ:GALT) rose 21.8% during mid-day trading on Wednesday . The company traded as high as $2.45 and last traded at $2.35. Approximately 1,483,957 shares changed hands during trading, an increase of 234% from the average daily volume of 443,958 shares. The stock had previously closed at $1.93.

GALT has been the subject of a number of research reports. ValuEngine cut Galectin Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Seaport Global Securities reissued a “buy” rating and set a $5.00 target price on shares of Galectin Therapeutics in a research note on Friday, October 6th. Roth Capital initiated coverage on Galectin Therapeutics in a research note on Thursday, October 19th. They set a “buy” rating and a $8.00 target price for the company. HC Wainwright increased their target price on Galectin Therapeutics from $3.50 to $6.00 and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, Zacks Investment Research raised Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $4.55.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. equities research analysts predict that Galectin Therapeutics Inc will post -0.52 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Galectin Therapeutics by 4.4% during the 2nd quarter. Northern Trust Corp now owns 75,097 shares of the company’s stock worth $185,000 after acquiring an additional 3,176 shares during the last quarter. Virtu KCG Holdings LLC boosted its position in Galectin Therapeutics by 24.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 107,203 shares of the company’s stock worth $264,000 after acquiring an additional 21,008 shares during the last quarter. Advisor Group Inc. boosted its position in Galectin Therapeutics by 10.4% during the 2nd quarter. Advisor Group Inc. now owns 484,000 shares of the company’s stock worth $1,191,000 after acquiring an additional 45,700 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Galectin Therapeutics by 18.2% during the 2nd quarter. Vanguard Group Inc. now owns 871,510 shares of the company’s stock worth $2,144,000 after acquiring an additional 134,165 shares during the last quarter. 10.77% of the stock is owned by hedge funds and other institutional investors.

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About Galectin Therapeutics

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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