Zacks: Analysts Expect Galectin Therapeutics Inc. (NASDAQ:GALT) to Announce -$0.09 EPS

Equities research analysts expect Galectin Therapeutics Inc. (NASDAQ:GALT) to post earnings per share of ($0.09) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Galectin Therapeutics’ earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.10). Galectin Therapeutics posted earnings per share of ($0.07) in the same quarter last year, which suggests a negative year-over-year growth rate of 28.6%. The company is scheduled to issue its next quarterly earnings report on Tuesday, November 12th.

According to Zacks, analysts expect that Galectin Therapeutics will report full year earnings of ($0.47) per share for the current fiscal year. For the next year, analysts anticipate that the company will post earnings of ($0.46) per share, with EPS estimates ranging from ($0.51) to ($0.41). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Galectin Therapeutics.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04.

Separately, Zacks Investment Research cut shares of Galectin Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 14th.

In other news, major shareholder Fund L.P. 10X sold 17,000 shares of Galectin Therapeutics stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3.73, for a total transaction of $63,410.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 40.70% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in GALT. BlackRock Inc. boosted its holdings in Galectin Therapeutics by 243.4% during the second quarter. BlackRock Inc. now owns 2,045,111 shares of the company’s stock worth $8,486,000 after purchasing an additional 1,449,610 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Galectin Therapeutics by 7.8% during the second quarter. Vanguard Group Inc. now owns 1,734,324 shares of the company’s stock worth $7,197,000 after purchasing an additional 125,092 shares during the last quarter. Advisor Group Inc. boosted its holdings in Galectin Therapeutics by 16.5% during the second quarter. Advisor Group Inc. now owns 807,175 shares of the company’s stock worth $3,350,000 after purchasing an additional 114,586 shares during the last quarter. Cutter & CO Brokerage Inc. purchased a new position in Galectin Therapeutics during the second quarter worth about $370,000. Finally, Bank of New York Mellon Corp boosted its holdings in Galectin Therapeutics by 392.5% during the second quarter. Bank of New York Mellon Corp now owns 95,315 shares of the company’s stock worth $395,000 after purchasing an additional 75,963 shares during the last quarter. Institutional investors and hedge funds own 14.93% of the company’s stock.

Shares of NASDAQ GALT traded up $0.13 during mid-day trading on Monday, reaching $3.95. 141,840 shares of the company’s stock traded hands, compared to its average volume of 338,627. The stock has a market cap of $224.26 million, a P/E ratio of -10.39 and a beta of 3.00. The business has a 50-day simple moving average of $3.73 and a 200 day simple moving average of $3.95. Galectin Therapeutics has a 1-year low of $2.94 and a 1-year high of $6.16.

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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Earnings History and Estimates for Galectin Therapeutics (NASDAQ:GALT)

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