Galecto (NASDAQ:GLTO) Rating Increased to Strong-Buy at Lifesci Capital

Lifesci Capital upgraded shares of Galecto (NASDAQ:GLTO) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

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

Galecto Trading Up 4.3%

NASDAQ:GLTO opened at $27.36 on Monday. The stock’s 50-day moving average is $24.92 and its 200-day moving average is $13.33. Galecto has a 1-year low of $2.01 and a 1-year high of $38.33. The stock has a market cap of $43.69 million, a P/E ratio of -2.26 and a beta of 1.42.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Galecto during the third quarter valued at $49,000. Two Sigma Investments LP bought a new position in shares of Galecto during the third quarter valued at $76,000. Connective Capital Management LLC purchased a new position in shares of Galecto in the 3rd quarter worth about $100,000. Finally, Sigma Planning Corp purchased a new position in shares of Galecto in the 4th quarter worth about $334,000. Institutional investors own 14.20% of the company’s stock.

About Galecto

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.