Galena Biopharma (GALE) : Analyst Rating Update

Galena Biopharma (GALE) : The consensus on Galena Biopharma (GALE) based on 4 analyst recommendation on the company stock is 2, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Galena Biopharma (GALE) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $5 and the lowest price target forecast is $4. The average forecast of all the analysts is $4.38 and the expected standard deviation is $0.75.

Galena Biopharma (NASDAQ:GALE): The stock opened at $0.69 on Wednesday but the bulls could not build on the opening and the stock topped out at $0.69 for the day. The stock traded down to $0.54 during the day, due to lack of any buying support eventually closed down at $0.59 with a loss of -10.80% for the day. The stock had closed at $0.66 on the previous day. The total traded volume was 15,996,271 shares.

Also, Raymond James downgrades its rating on Galena Biopharma (NASDAQ:GALE). Analysts at the Raymond James have a current rating of Market Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 29, 2016. The company shares have dropped -57.14% from its 1 Year high price. On Jun 20, 2016, the shares registered one year high at $2.49 and the one year low was seen on Jun 29, 2016. The 50-Day Moving Average price is $1.78 and the 200 Day Moving Average price is recorded at $1.27.

Galena Biopharma, Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing targeted oncology therapeutics. Its development portfolio ranges from mid- to late-stage clinical assets, including immunotherapy program led by its lead product NeuVax (nelipepimut-S), which is in Phase III clinical trial and is a targeted cancer immunotherapy. NeuVax is the immunodominant nonapeptide derived from the extracellular domain of the HER2 protein, a target for therapeutic intervention in breast and gastric carcinomas. GALE-301 is an immunogenic peptide and can stimulate cytotoxic T lymphocytes to recognize and destroy Folate Binding Protein-expressing cancer cells. GALE-401 is a controlled release formulation of anagrelide. Its commercial drug, Abstral (fentanyl) Sublingual Tablets is a treatment option for inadequately controlled breakthrough cancer pain.

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