Galera Therapeutics (GRTX) Gets a Hold Rating from Credit Suisse

By Carrie Williams

In a report released today, Evan Seigerman from Credit Suisse maintained a Hold rating on Galera Therapeutics (GRTXResearch Report), with a price target of $8.00. The company’s shares closed last Wednesday at $7.66, close to its 52-week low of $5.58.

According to TipRanks.com, Seigerman is a 5-star analyst with an average return of 29.7% and a 71.7% success rate. Seigerman covers the Healthcare sector, focusing on stocks such as Satsuma Pharmaceuticals, Vertex Pharmaceuticals, and Aimmune Therapeutics.

Currently, the analyst consensus on Galera Therapeutics is a Moderate Buy with an average price target of $15.50.

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Based on Galera Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.42 million. In comparison, last year the company had a GAAP net loss of $10.35 million.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GRTX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Galera Therapeutics, Inc. operates as a clinical-stage biotechnology company. It focuses on the prevention of radiation-induced toxicity, including mucositis and the treatment of fibrosis and cancer. The company was founded by Robert A. Beardsley, Randy W. Weiss, and Dennis P. Riley in 2009 and is headquartered in Malvern, PA.