Zacks Investment Research upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a strong-buy rating in a research report released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $4.50 price objective on the stock.
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. “
Separately, ValuEngine lowered shares of Zymeworks from a buy rating to a hold rating in a research note on Saturday, May 18th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $9.17.
Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.06. On average, analysts forecast that Galectin Therapeutics will post -0.45 earnings per share for the current fiscal year.
In other news, Director Richard E. Uihlein acquired 4,680,606 shares of Galectin Therapeutics stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $4.28 per share, with a total value of $20,032,993.68. Following the purchase, the director now directly owns 3,128,489 shares of the company’s stock, valued at $13,389,932.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 45.20% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its stake in Galectin Therapeutics by 25.1% in the second quarter. Commonwealth Equity Services LLC now owns 15,247 shares of the company’s stock valued at $63,000 after buying an additional 3,059 shares in the last quarter. MML Investors Services LLC lifted its stake in Galectin Therapeutics by 55.8% in the fourth quarter. MML Investors Services LLC now owns 26,926 shares of the company’s stock valued at $92,000 after buying an additional 9,642 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Galectin Therapeutics in the first quarter valued at approximately $138,000. WINTON GROUP Ltd lifted its stake in Galectin Therapeutics by 37.5% in the second quarter. WINTON GROUP Ltd now owns 40,279 shares of the company’s stock valued at $167,000 after buying an additional 10,986 shares in the last quarter. Finally, BT Wealth Management LLC bought a new position in Galectin Therapeutics in the fourth quarter valued at approximately $249,000. 15.92% 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, skin, and cancer diseases. The company's lead product candidate includes GR-MD-02 galectin-3 inhibitor, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.
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