Galecto (NASDAQ:GLTO) Posts Earnings Results, Beats Estimates By $0.16 EPS

Galecto (NASDAQ:GLTO) issued its quarterly earnings results on Monday. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.16, Zacks reports.

Galecto Price Performance

NASDAQ GLTO traded up $0.00 during trading on Wednesday, reaching $0.55. The company’s stock had a trading volume of 26,929 shares, compared to its average volume of 189,309. The stock has a market capitalization of $14.78 million, a PE ratio of -0.47 and a beta of 1.17. The firm has a fifty day moving average of $0.52 and a 200 day moving average of $0.64. Galecto has a one year low of $0.46 and a one year high of $1.08.

Analyst Ratings Changes

Separately, Oppenheimer dropped their price target on Galecto from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Galecto currently has an average rating of “Hold” and a consensus price target of $4.33.

About Galecto

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.