Galectin Therapeutics (GALT) Downgraded by ValuEngine to “Hold”

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ValuEngine cut shares of Galectin Therapeutics (NASDAQ:GALT) from a buy rating to a hold rating in a report published on Saturday morning, ValuEngine reports.

Several other research firms have also recently weighed in on GALT. Zacks Investment Research cut shares of Galectin Therapeutics from a buy rating to a hold rating in a research report on Tuesday, April 16th. B. Riley assumed coverage on shares of Galectin Therapeutics in a research report on Thursday, March 7th. They set a buy rating and a $11.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $9.42.

Shares of NASDAQ:GALT opened at $4.67 on Friday. Galectin Therapeutics has a one year low of $3.17 and a one year high of $9.49. The firm has a market capitalization of $206.52 million, a price-to-earnings ratio of -12.29 and a beta of 3.54.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). On average, equities research analysts anticipate that Galectin Therapeutics will post -0.58 earnings per share for the current year.

In related news, Director Richard E. Uihlein acquired 20,700 shares of the stock in a transaction dated Tuesday, April 9th. The shares were purchased at an average price of $4.82 per share, for a total transaction of $99,774.00. Following the transaction, the director now owns 2,628,489 shares in the company, valued at approximately $12,669,316.98. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marc Rubin sold 51,185 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $6.02, for a total transaction of $308,133.70. Following the sale, the director now owns 13,581 shares in the company, valued at approximately $81,757.62. The disclosure for this sale can be found here. Company insiders own 45.20% of the company’s stock.

A number of large investors have recently modified their holdings of GALT. Vanguard Group Inc raised its position in Galectin Therapeutics by 18.7% in the 3rd quarter. Vanguard Group Inc now owns 1,432,576 shares of the company’s stock worth $8,609,000 after purchasing an additional 225,822 shares during the period. Vanguard Group Inc. raised its position in Galectin Therapeutics by 18.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,432,576 shares of the company’s stock worth $8,609,000 after purchasing an additional 225,822 shares during the period. JPMorgan Chase & Co. purchased a new position in Galectin Therapeutics in the 1st quarter worth $964,000. Cambridge Investment Research Advisors Inc. purchased a new position in Galectin Therapeutics in the 1st quarter worth $900,000. Finally, Barclays PLC raised its position in Galectin Therapeutics by 2,711.6% in the 4th quarter. Barclays PLC now owns 174,603 shares of the company’s stock worth $599,000 after purchasing an additional 168,393 shares during the period. Institutional investors own 12.68% of the company’s stock.

About Galectin Therapeutics

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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