Galecto (NASDAQ:GLTO) Upgraded to “Strong-Buy” at Lifesci Capital

Galecto (NASDAQ:GLTO) was upgraded by Lifesci Capital to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also issued reports on GLTO. Weiss Ratings reissued a “sell (e+)” rating on shares of Galecto in a research report on Monday, December 29th. Wall Street Zen upgraded Galecto from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Guggenheim increased their target price on Galecto from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Leerink Partners started coverage on Galecto in a research report on Wednesday, January 7th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, Zacks Research upgraded shares of Galecto to a “hold” rating in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Galecto presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Galecto Price Performance

NASDAQ GLTO opened at $27.36 on Monday. The stock has a market capitalization of $43.69 million, a P/E ratio of -2.26 and a beta of 1.42. The firm’s 50-day moving average is $24.92 and its two-hundred day moving average is $13.33. Galecto has a 12 month low of $2.01 and a 12 month high of $38.33.

Galecto (NASDAQ:GLTO) last released its quarterly earnings results on Thursday, November 6th. The company reported ($2.36) earnings per share (EPS) for the quarter. As a group, analysts anticipate that Galecto will post -15.91 EPS for the current year.

Institutional Investors Weigh In On Galecto

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Galecto in the 3rd quarter valued at about $49,000. Sigma Planning Corp purchased a new stake in shares of Galecto during the fourth quarter worth approximately $334,000. Two Sigma Investments LP purchased a new stake in shares of Galecto during the third quarter worth approximately $76,000. Finally, Connective Capital Management LLC acquired a new stake in Galecto in the third quarter valued at approximately $100,000. Hedge funds and other institutional investors own 14.20% of the company’s stock.

Galecto Company Profile

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company’s research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.