Angis Capital Downgrades Galectin Therapeutics, Inc.

by Benzinga Staff
August 1, 2014 12:26 PM | 27 seconds read | Make a Comment

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In a note released Friday morning, Aegis Capital analyst, Raghuram Selvaraju downgraded shares of Galectin Therapeutics, Inc. (NASDAQ: GALT) from Buy to Hold. The downgrade comes amid results concerns as to whether or not the company will be able to demonstrate clinical effectiveness of its lead drug candidate GR-MD-02. The concerns arose when the second cohort of its Phase 1b trial did not show the same indications of potential anti-fibrotic efficacy as the previous cohort.Amid the Aegis downgrade shares of have dropped over seven percent in Friday's market session to ~$5.70.

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Posted In: Analyst ColorNewsDowngradesPrice TargetAnalyst RatingsMoversAegis Capital

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