Galectin Therapeutics Coverage Initiated by Stock Analysts

Coverage on Galectin Therapeutics Inc. GALT, a Norcross, Georgia-based clinical-stage biopharmaceutical company, has been initiated by the analysts at StockNews.com. The firm has received a 'hold' rating, indicating a neutral stance on the stock's investment potential at this time. This development comes on the heels of HC Wainwright reaffirming a 'buy' rating with a target price of $11.00 on Galectin Therapeutics, suggesting a more optimistic outlook.

Performance and Market Insight of GALT

GALT traded at an opening price of $2.10 recently, with its 50-day and 200-day moving averages at $1.95 and $1.71 respectively. The stock has observed a 52-week low of $1.02 and a high of $2.47, and holds a market capitalization of approximately $129.88 million. Its P/E ratio stands at -3.18 with a beta of 1.17. In terms of earnings, Galectin Therapeutics announced a quarterly EPS of ($0.15), surpassing the estimated ($0.21) by analysts, and is projected to post an EPS of -0.67 for the current fiscal year.

Investment and Institutional Interest

Significant changes in ownership among hedge funds and other institutional investors have been noted. For example, D.A. Davidson & CO. increased its holdings in GALT by 15.2%, while Northern Trust Corporation NTRS, based in Chicago and catering to a range of clients including institutional investors, now holds 101,964 shares after increasing its stake by 7.6%. ETFs and others like Geode Capital Management and PNC Financial Services Group Inc. PNC, the Pittsburgh-headquartered bank holding company, have also adjusted their positions in Galectin Therapeutics, reflecting a steadfast interest in the biopharmaceutical firm.

Overview of Galectin Therapeutics

Specializing in the development of therapies aimed at fibrotic diseases, cancer, and other significant medical conditions, Galectin Therapeutics' flagship product is the belapectin (GR-MD-02), a galectin-3 inhibitor. This compound is currently undergoing Phase III clinical trials for both liver fibrosis in connection with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for oncological applications.

Galectin, Northern, PNC