Galectin Therapeutics Inc (GALT) was Downgraded by FBR & Co. to ” Mkt Perform” while Lowering the Price Target of the company shares to $ 2 from a previous price target of $12 . Earlier the firm had a rating of “Outperform ” on the company shares. FBR & Co. advised their investors in a research report released on Oct 3, 2016.
Many Wall Street Analysts have commented on Galectin Therapeutics Inc. Shares were Downgraded by FBR & Co. on Oct 3, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 2 from a previous price target of $12 .H.C. Wainwright Downgraded Galectin Therapeutics Inc on Sep 29, 2016 to ” Neutral”, Price Target of the shares are set at $1.50.Galectin Therapeutics Inc was Downgraded by ROTH Capital to ” Sell” on Sep 28, 2016.
Galectin Therapeutics Inc closed down -0.09 points or -7.38% at $1.13 with 16,32,130 shares getting traded on Friday. Post opening the session at $1.23, the shares hit an intraday low of $1.1 and an intraday high of $1.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 21, 2016, James C Czirr (director) sold 44,312 shares at $1.65 per share price. According to the SEC, on Jan 7, 2016, Arthur Greenberg (director) purchased 1,666 shares at $1.72 per share price. On Dec 2, 2015, Gilbert F Amelio (director) sold 100 shares at $2.10 per share price, according to the Form-4 filing with the securities and exchange commission.
Galectin Therapeutics Inc. is a 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. It uses naturally occurring readily-available plant materials as starting material in manufacturing processes to create complex carbohydrates with specific molecular weights and other pharmaceutical properties. The Company has two compounds in development GRMD02 and GMCT01 both of which have shown promise in preclinical studies in treatment of fibrosis and in cancer therapy. The Company is focusing on the development of GRMD02 intended to be used in the treatment of liver fibrosis and fatty liver disease and in cancer therapy in combination with immunesystem modifying agent(s).