Galectin Therapeutics (NASDAQ:GALT) Posts Earnings Results, Misses Estimates By $0.03 EPS

Galectin Therapeutics (NASDAQ:GALT) announced its quarterly earnings results on Monday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports.

Galectin Therapeutics Price Performance

Shares of GALT opened at $1.25 on Monday. The company has a market capitalization of $78.14 million, a P/E ratio of -1.71 and a beta of 0.69. The firm’s 50 day simple moving average is $1.45 and its 200 day simple moving average is $1.98. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $4.27.

Hedge Funds Weigh In On Galectin Therapeutics

An institutional investor recently raised its position in Galectin Therapeutics stock. Bank of America Corp DE lifted its position in Galectin Therapeutics Inc. (NASDAQ:GALT) by 101.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,358 shares of the company’s stock after purchasing an additional 19,316 shares during the period. Bank of America Corp DE owned about 0.06% of Galectin Therapeutics worth $49,000 as of its most recent SEC filing. 11.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GALT has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Galectin Therapeutics in a report on Friday, December 27th. StockNews.com lowered shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 30th.

About Galectin Therapeutics

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.