Roth Capital Keeps Their Buy Rating on Galectin Therapeutics

By Austin Angelo

Roth Capital analyst Yasmeen Rahimi reiterated a Buy rating on Galectin Therapeutics (NASDAQ: GALT) today and set a price target of $3. The company’s shares opened today at $1.60.

According to TipRanks.com, Rahimi is a 3-star analyst with an average return of 16.5% and a 62.5% success rate. Rahimi covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Galmed Pharmaceuticals, and Gemphire Therapeutics.

Currently, the analyst consensus on Galectin Therapeutics is Strong Buy and the average price target is $6, representing a 275.0% upside.

In a report issued on November 28, H.C. Wainwright also maintained a Buy rating on the stock with a $6 price target.

Based on Galectin Therapeutics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $4.41 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $4.53 million.

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Galectin Therapeutics, Inc. operates as a biotechnology company, which engages in drug research and development to create new therapies for fibrotic disease and cancer. Its drug candidates are based on the method of targeting galectin proteins, which are key mediators of biologic and pathologic function and its focus is on diseases with serious, life-threatening consequences to patients and those where current treatment options are limited. The company was founded by James C. Czirr and Anatole A. Kltyosov on July 10, 2000 and is headquartered in Norcross, GA.