Galena Biopharma Inc (NASDAQ:GALE), a biopharmaceutical company committed to the development and commercialization of targeted oncology therapeutics that address major unmet medical needs, today announced the departure of the Company’s Chief Financial Officer (CFO), Mr. Ryan Dunlap, effective December 31, 2015. Mr. Dunlap was unable to relocate his family to the new Company headquarters in San Ramon, California and, therefore, has resigned as of the end of the year. In order to facilitate an orderly transition, the Company and Mr. Dunlap are negotiating a consulting arrangement. The Company has instituted a search for a CFO.
Mark W. Schwartz, Ph.D., President and Chief Executive Officer, commented, “On behalf of the management team and the Board of Directors, I would like to thank Ryan for his countless contributions to Galena. He has played a crucial role in our organization over the past several years and I wish him success in his future endeavors.” (Original Source)
Shares of Galena Biopharma closed yesterday at $1.56, up $0.06 or 4.00%. GALE has a 1-year high of $2.39 and a 1-year low of $1.10. The stock’s 50-day moving average is $1.57 and its 200-day moving average is $1.66.
On the ratings front, Galena has been the subject of a number of recent research reports. In a report issued on December 8, Cantor Fitzgerald analyst Mara Goldstein upgraded GALE to Hold, with a price target of $2, which represents a potential upside of 28.2% from where the stock is currently trading. Separately, on December 7, Oppenheimer’s Ling Wang reiterated a Buy rating on the stock and has a price target of $4.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mara Goldstein and Ling Wang have a total average return of -4.6% and 0.3% respectively. Goldstein has a success rate of 37.0% and is ranked #3296 out of 3638 analysts, while Wang has a success rate of 38.0% and is ranked #2072.
The street is mostly Bullish on GALE stock. Out of 5 analysts who cover the stock, 4 suggest a Buy rating and one recommends to Hold the stock.
Galena Biopharma Inc, is a biopharmaceutical company focused on developing and commercializing targeted oncology therapeutics that address medical needs across the full spectrum of cancer care.