UPDATE: Ascendiant Capital Initiates Coverage on Galectin Therapeutics on Intriguing Speculative Short-Cap Investment Story

In a report published Monday, Ascendiant Capital Markets analyst Keay Nakae initiated coverage on Galectin Therapeutics GALT with a Buy rating and $13.00 price target. In the report, Ascendiant Capital Markets noted, “We are initiating coverage of GALT with a Buy rating and 12-month price target of $13.00. We believe that Galectin Therapeutics is an intriguing speculative small cap investment story. The company is advancing the development of its proprietary complex carbohydrate compounds that are designed to bind to and inhibit galectin proteins. Galectins are a family of proteins found in the body that due to their ability to bind to carbohydrate molecules located on other proteins in the body, makes them important in a broad range of cellular functions. However, the cellular functions they facilitate are not always beneficial and therefore the investigation of the role of galectin proteins in pathological disorders is an emerging science.” Galectin Therapeutics closed on Friday at $11.00.