Galera Therapeutics (NASDAQ:GRTX) Receives Consensus Rating of “Strong Buy” from Brokerages

Galera Therapeutics (NASDAQ:GRTX) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Brokerages have set a 12-month consensus price target of $15.00 for the company, according to Zacks. Zacks has also assigned Galera Therapeutics an industry rank of 59 out of 255 based on the ratings given to related companies.

Several research firms have weighed in on GRTX. Credit Suisse Group initiated coverage on shares of Galera Therapeutics in a research note on Monday. They issued a “neutral” rating and a $14.00 price target for the company. BTIG Research started coverage on Galera Therapeutics in a research note on Monday. They set a “buy” rating and a $30.00 price objective on the stock. Citigroup assumed coverage on Galera Therapeutics in a report on Monday. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Bank of America initiated coverage on Galera Therapeutics in a research note on Monday. They issued a “buy” rating and a $15.00 target price for the company.

In other news, insider Holdings A/S Novo acquired 500,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $12.76 per share, for a total transaction of $6,380,000.00. Also, major shareholder Enterprise Associates 14 New acquired 416,666 shares of the stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $11.79 per share, with a total value of $4,912,492.14.

Shares of GRTX stock traded down $0.05 on Tuesday, hitting $12.02. 68,877 shares of the company’s stock traded hands, compared to its average volume of 115,240. Galera Therapeutics has a one year low of $11.50 and a one year high of $14.88.

Galera Therapeutics Company Profile

Galera Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of therapeutics for the transformation of radiotherapy in cancer. The company's lead product candidate is GC4419, a small molecule dismutase mimetic, which is in Phase III clinical trial for the treatment of radiation-induced severe oral mucositis in patients with head and neck cancer, as well as in Phase I clinical trial for the treatment of radiotherapy-induced esophagitis.

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