H.C. Wainwright downgraded Galectin Therapeutics (NYSE:GALT) from Buy to Neutral in a report released today.
- Updated: October 1, 2016
H.C. Wainwright has downgraded Galectin Therapeutics (NYSE:GALT) from Buy to Neutral in a report released on Thursday September 29, 2016.
Previously on 09/28/2016, Roth Capital reported on Galectin Therapeutics (NYSE:GALT) reduced the target price from $3.00 to $0.75. At the time, this indicated a possible downside of -0.49%.
Yesterday Galectin Therapeutics (NYSE:GALT) traded -7.38% lower at $1.40. The company’s 50-day moving average is $1.86 and its 200-day moving average is $1.60. The last stock price is down -29.44% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 1,632,130 shares of GALT traded hands, up from an average trading volume of 607,886
See Chart Below
Galectin Therapeutics has a 52 week low of $1.08 and a 52 week high of $3.25 The company’s market cap is currently $0.
In addition to H.C. Wainwright reporting its target price, a total of 3 firms have reported on the stock. The consensus target price is $8.33 with 1 firm rating the stock a strong buy, 2 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Galectin Therapeutics (NYSE: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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.