Wall Street brokerages expect Galectin Therapeutics Inc. (NASDAQ:GALT) to announce earnings per share of ($0.06) for the current quarter, according to Zacks. Zero analysts have made estimates for Galectin Therapeutics’ earnings. Galectin Therapeutics reported earnings per share of ($0.08) during the same quarter last year, which would suggest a positive year over year growth rate of 25%. The business is expected to issue its next quarterly earnings results on Wednesday, March 4th.
On average, analysts expect that Galectin Therapeutics will report full-year earnings of ($0.35) per share for the current financial year. For the next year, analysts expect that the business will report earnings of ($0.41) per share, with EPS estimates ranging from ($0.51) to ($0.31). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Galectin Therapeutics.
Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03.
Separately, Zacks Investment Research raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Friday.
Shares of Galectin Therapeutics stock opened at $3.23 on Wednesday. Galectin Therapeutics has a 12-month low of $2.94 and a 12-month high of $6.06. The company’s fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $3.87.
In other Galectin Therapeutics news, major shareholder Fund L.P. 10X sold 17,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3.73, for a total value of $63,410.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 40.70% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GALT. BlackRock Inc. boosted its stake in shares of Galectin Therapeutics by 243.4% during the 2nd quarter. BlackRock Inc. now owns 2,045,111 shares of the company’s stock valued at $8,486,000 after purchasing an additional 1,449,610 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Galectin Therapeutics by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,734,324 shares of the company’s stock valued at $7,197,000 after purchasing an additional 125,092 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Galectin Therapeutics by 16.5% during the 2nd quarter. Advisor Group Inc. now owns 807,175 shares of the company’s stock valued at $3,350,000 after purchasing an additional 114,586 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at about $370,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Galectin Therapeutics by 392.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 95,315 shares of the company’s stock valued at $395,000 after purchasing an additional 75,963 shares in the last quarter. 14.93% of the stock is currently owned by hedge funds and other institutional investors.
About Galectin Therapeutics
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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