FBR & Co downgraded Galectin Therapeutics Inc (NASDAQ:GALT) to Market Perform in a statement released earlier today.
- Updated: October 2, 2016
FBR & Co has downgraded Galectin Therapeutics Inc (NASDAQ:GALT) to Market Perform in a statement released on 10/3/2016.
On Thursday September 29, 2016, HC Wainwright released a statement on Galectin Therapeutics Inc (NASDAQ:GALT) bumped up the target price from $0.00 to $1.50 that suggested an upside of 0.07%.
Boasting a price of $1.13, Galectin Therapeutics Inc (NASDAQ:GALT) traded -7.38% lower on the day. With the last close down -29.44% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Galectin Therapeutics Inc has recorded a 50-day average of $1.86 and a two hundred day average of $1.60. Volume of trade was up over the average, with 1,632,130 shares of GALT changing hands over the typical 607,886
Recent Performance Chart
Galectin Therapeutics Inc has 52 week low of $1.08 and a 52 week high of $3.25 and has a market capitalization of $0.
In addition to FBR & Co reporting its stock price target, a total of 3 brokerages have issued a ratings update on the company. The average stock price target is $8.33 with 1 brokerage rating the stock a strong buy, 2 brokerages rating the stock a buy, 0 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On Galectin Therapeutics Inc (NASDAQ:GALT)
Galectin Therapeutics Inc. is a clinical-stage biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The Company's drug candidates are based on its method of targeting galectin proteins, which are mediators of biologic and pathologic functions. It uses naturally occurring, readily-available plant materials as starting material in manufacturing processes to create complex carbohydrates with specific molecular weights and other pharmaceutical properties. The Company has two product candidates, GR-MD-02 and GM-CT-01. The Company's galectin-3 inhibitor is GR-MD-02. The Company is focusing on development of GR-MD-02 intended to be used in the treatment of liver fibrosis associated with fatty liver disease (NASH), moderate to severe plaque psoriasis and in cancer therapy in combination with immune-system modifying agent(s). GM-CT-01 is a compound that continues to be explored in preclinical studies.
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