Galectin Therapeutics (NASDAQ:GALT) Downgraded to “Hold” at Zacks Investment Research

Galectin Therapeutics (NASDAQ:GALT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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 raised Galectin Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th.

Shares of Galectin Therapeutics stock traded down $0.05 during trading on Tuesday, hitting $2.89. 120,316 shares of the company’s stock traded hands, compared to its average volume of 202,711. Galectin Therapeutics has a 1 year low of $2.72 and a 1 year high of $6.06. The stock has a market capitalization of $164.40 million, a P/E ratio of -7.61 and a beta of 2.90. The business has a 50-day simple moving average of $2.95 and a 200-day simple moving average of $3.50.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. Research analysts expect that Galectin Therapeutics will post -0.29 EPS for the current year.

Large investors have recently made changes to their positions in the business. Vivaldi Capital Management LLC purchased a new position in Galectin Therapeutics in the second quarter worth about $44,000. Squarepoint Ops LLC boosted its position in Galectin Therapeutics by 37.5% in the third quarter. Squarepoint Ops LLC now owns 13,901 shares of the company’s stock worth $51,000 after purchasing an additional 3,788 shares during the last quarter. Centaurus Financial Inc. boosted its position in Galectin Therapeutics by 20,098.8% in the second quarter. Centaurus Financial Inc. now owns 16,563 shares of the company’s stock worth $69,000 after purchasing an additional 16,481 shares during the last quarter. Amussen Hunsaker Associates LLC purchased a new position in Galectin Therapeutics in the second quarter worth about $71,000. Finally, D. E. Shaw & Co. Inc. boosted its position in Galectin Therapeutics by 19.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 19,498 shares of the company’s stock worth $81,000 after purchasing an additional 3,148 shares during the last quarter. 16.43% 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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