Analyst Rating Update on Galena Biopharma (GALE)

Galena Biopharma (GALE) : 4 analysts are covering Galena Biopharma (GALE) and their average rating on the stock is 2, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

For the current week, the company shares have a recommendation consensus of Buy. Also, In the latest statement by the brokerage house, Raymond James downgrades its outlook on Galena Biopharma (NASDAQ:GALE). The current rating of the shares is Market Perform, according to the research report released by the firm. Previously, the company had a rating of Outperform. The rating by the firm was issued on June 29, 2016.


Galena Biopharma (NASDAQ:GALE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $0.43 and $0.42 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $0.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $0.46, notching a gain of 7.08% for the day. The total traded volume was 4,577,088 . The stock had closed at $0.43 on the previous day.

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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