Galecto (NASDAQ:GLTO) Posts Earnings Results

Galecto (NASDAQ:GLTO) posted its earnings results on Thursday. The company reported ($2.36) earnings per share for the quarter, Zacks reports.

Galecto Stock Performance

GLTO opened at $5.82 on Friday. The stock has a market capitalization of $7.68 million, a PE ratio of -0.44 and a beta of 1.45. Galecto has a one year low of $2.01 and a one year high of $31.70. The business’s 50 day moving average price is $6.11 and its 200 day moving average price is $4.24.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen upgraded Galecto to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Galecto in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

About Galecto

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.