StockNews.com Upgrades Galectin Therapeutics (NASDAQ:GALT) to Hold

StockNews.com upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a sell rating to a hold rating in a research report report published on Wednesday.

Separately, HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research report on Friday, November 15th.

Galectin Therapeutics Trading Up 2.2 %

GALT stock opened at $2.78 on Wednesday. The stock has a market cap of $174.47 million, a P/E ratio of -3.81 and a beta of 0.62. Galectin Therapeutics has a twelve month low of $1.55 and a twelve month high of $4.27. The company’s 50 day moving average is $2.69 and its two-hundred day moving average is $2.59.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of Galectin Therapeutics during the second quarter worth approximately $43,000. Rhumbline Advisers purchased a new position in Galectin Therapeutics during the 2nd quarter worth $44,000. Gladstone Institutional Advisory LLC acquired a new position in Galectin Therapeutics in the third quarter valued at $60,000. Barclays PLC raised its holdings in shares of Galectin Therapeutics by 309.0% in the third quarter. Barclays PLC now owns 28,587 shares of the company’s stock valued at $79,000 after buying an additional 21,598 shares during the last quarter. Finally, Traynor Capital Management Inc. raised its holdings in shares of Galectin Therapeutics by 23.5% in the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after buying an additional 8,164 shares during the last quarter. Institutional investors and hedge funds own 11.68% 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, 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.