Galectin Therapeutics (GALT) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a sell rating to a hold rating in a research note released on Tuesday.

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. “

A number of other equities analysts have also weighed in on GALT. Roth Capital started coverage on Galectin Therapeutics in a research report on Thursday, October 19th. They issued a buy rating and a $8.00 price target for the company. HC Wainwright increased their price target on Galectin Therapeutics from $3.50 to $6.00 and gave the company a buy rating in a research report on Tuesday, November 28th. Finally, ValuEngine lowered Galectin Therapeutics from a sell rating to a strong sell rating in a research report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $5.55.

Galectin Therapeutics (GALT) opened at $4.09 on Tuesday. Galectin Therapeutics has a 1 year low of $1.15 and a 1 year high of $6.74.

In related news, major shareholder Fund L.P. 10X sold 244,444 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $5.43, for a total value of $1,327,330.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Czirr sold 205,144 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $5.45, for a total value of $1,118,034.80. The disclosure for this sale can be found here. Company insiders own 38.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp boosted its position in Galectin Therapeutics by 4.4% during the 2nd quarter. Northern Trust Corp now owns 75,097 shares of the company’s stock worth $185,000 after acquiring an additional 3,176 shares during the period. Virtu KCG Holdings LLC boosted its position in Galectin Therapeutics by 24.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 107,203 shares of the company’s stock worth $264,000 after acquiring an additional 21,008 shares during the period. Wedbush Securities Inc. acquired a new stake in Galectin Therapeutics during the 4th quarter worth about $102,000. Advisor Group Inc. boosted its position in Galectin Therapeutics by 7.4% during the 3rd quarter. Advisor Group Inc. now owns 519,850 shares of the company’s stock worth $1,112,000 after acquiring an additional 35,850 shares during the period. Finally, Vanguard Group Inc. boosted its position in Galectin Therapeutics by 18.2% during the 2nd quarter. Vanguard Group Inc. now owns 871,510 shares of the company’s stock worth $2,144,000 after acquiring an additional 134,165 shares during the period. Hedge funds and other institutional investors own 10.66% of the company’s stock.

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About Galectin Therapeutics

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.

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