Galecto price target raised to $36 from $32 at Guggenheim

Guggenheim raised the firm’s price target on Galecto (GLTO) to $36 from $32 and keeps a Buy rating on the shares. The firm considers the ASH medical meeting “a positive development” because Incyte (INCY) reported INCA033989 data that de-risk the class for myelofibrosis, but showed a probability that efficacy in Type 2 patients has “been left on the table as a competitive opening” for DMR-001, the analyst tells investors.