Galecto (NASDAQ:GLTO) Issues Earnings Results

Galecto (NASDAQ:GLTO) posted its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.16, Zacks reports.

Galecto Stock Performance

NASDAQ:GLTO opened at $0.54 on Wednesday. The firm’s fifty day moving average is $0.52 and its two-hundred day moving average is $0.64. The firm has a market cap of $14.68 million, a price-to-earnings ratio of -0.47 and a beta of 1.17. Galecto has a one year low of $0.46 and a one year high of $2.45.

Analyst Ratings Changes

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

Galecto Company Profile

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.