Zacks: Analysts Anticipate Galectin Therapeutics Inc. (GALT) Will Announce Earnings of -$0.14 Per Share

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Equities analysts predict that Galectin Therapeutics Inc. (NASDAQ:GALT) will announce ($0.14) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Galectin Therapeutics’ earnings, with estimates ranging from ($0.20) to ($0.08). Galectin Therapeutics posted earnings of ($0.12) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The company is scheduled to announce its next earnings results on Friday, May 10th.

According to Zacks, analysts expect that Galectin Therapeutics will report full-year earnings of ($0.58) per share for the current fiscal year, with EPS estimates ranging from ($0.74) to ($0.42). For the next year, analysts expect that the business will post earnings of ($0.55) per share, with EPS estimates ranging from ($0.58) to ($0.52). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Galectin Therapeutics.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08).

Several equities analysts recently issued reports on the stock. ValuEngine downgraded shares of Galectin Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Monday. Finally, B. Riley assumed coverage on shares of Galectin Therapeutics in a research note on Thursday, March 7th. They set a “buy” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Galectin Therapeutics has a consensus rating of “Buy” and a consensus target price of $9.42.

In related news, Director Gilbert F. Amelio sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $5.00, for a total transaction of $150,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard E. Uihlein purchased 51,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The shares were bought at an average cost of $4.87 per share, with a total value of $250,805.00. Following the transaction, the director now directly owns 2,538,289 shares of the company’s stock, valued at approximately $12,361,467.43. The disclosure for this purchase can be found here. Corporate insiders own 45.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in Galectin Therapeutics during the third quarter worth approximately $107,000. MML Investors Services LLC increased its position in shares of Galectin Therapeutics by 55.8% in the fourth quarter. MML Investors Services LLC now owns 26,926 shares of the company’s stock worth $92,000 after acquiring an additional 9,642 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Galectin Therapeutics in the second quarter worth $237,000. Stratos Wealth Partners LTD. increased its position in shares of Galectin Therapeutics by 45.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 40,950 shares of the company’s stock worth $140,000 after acquiring an additional 12,796 shares in the last quarter. Finally, BT Wealth Management LLC acquired a new stake in shares of Galectin Therapeutics in the fourth quarter worth $249,000. 14.01% of the stock is owned by hedge funds and other institutional investors.

Shares of GALT traded up $0.25 on Thursday, hitting $4.68. 301,600 shares of the stock traded hands, compared to its average volume of 334,328. The company has a market capitalization of $194.50 million, a price-to-earnings ratio of -12.32 and a beta of 3.70. Galectin Therapeutics has a 1 year low of $3.10 and a 1 year high of $9.49.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic disease, skin disease, and cancer. The company's lead product candidate includes galectin-3 inhibitor (GR-MD-02), a galactoarabino-rhamnogalacturonan polysaccharide polymer for the treatment of liver fibrosis and liver cirrhosis in non-alcoholic steatohepatitis patients, as well as for the treatment of cancer.

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Earnings History and Estimates for Galectin Therapeutics (NASDAQ:GALT)

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