Matthew Keller, an analyst from H.C. Wainwright, reiterated the Buy rating on Galectin Therapeutics. The associated price target is $6.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Matthew Keller’s rating is based on the promising biomarker data for Galectin Therapeutics’ belapectin, which has demonstrated potential in treating fibrotic diseases. The recent data from the Phase 2 NAVIGATE study showed that belapectin effectively reduced the incidence of new varices in patients with high-risk ELF fibrosis scores, indicating its therapeutic benefits in managing liver complications.
Additionally, the study highlighted significant reductions in key biomarkers associated with liver fibrosis and injury, such as PRO-C3 and YKL-40, when patients were treated with belapectin compared to placebo. These findings not only support belapectin’s anti-fibrotic properties but also help mitigate risks in future regulatory discussions and clinical trials, reinforcing Keller’s confidence in the stock’s potential growth.
Based on the recent corporate insider activity of 34 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 GALT in relation to earlier this year.