H.C. Wainwright Thinks Galectin Therapeutics’ Stock is Going to Recover


In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Galectin Therapeutics (GALT), with a price target of $11. The company’s shares closed on Friday at $3.35, close to its 52-week low of $3.16.

Arce observed:

“916-3963, Rating POS Risk-adj value Full value Shares outstanding 56,631 S/O as of GR-MD-02: NASH cirrhosis 45.0% $10.93 $24.28 Current share price $3.35 Discount rate 13.0% Implied upside 228% Current market cap 190.”

According to TipRanks.com, Arce is a 4-star analyst with an average return of 6.5% and a 34.6% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.

Currently, the analyst consensus on Galectin Therapeutics is a Moderate Buy with an average price target of $11, implying a 228.4% upside from current levels. In a report issued on August 5, B.Riley FBR also reiterated a Buy rating on the stock with a $11 price target.

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The company has a one-year high of $6.98 and a one-year low of $3.16. Currently, Galectin Therapeutics has an average volume of 343.5K.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GALT in relation to earlier this year. Most recently, in June 2019, Harold Shlevin, the CEO of GALT bought 8,706 shares for a total of $11,927.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Galectin Therapeutics, Inc. is a biotechnology company, which engages in drug research and development to create new therapies for fibrotic disease, severe skin disease, and cancer. Its programs targets the development of carbohdrate molecules which offers offer alternative options to larger market segments.

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