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UPDATE: Aegis Capital Downgrades Galectin Therapeutics

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In a note released Friday morning, Aegis Capital analyst Raghuram Selvaraju downgraded shares of Galectin Therapeutics (NASDAQ: GALT) from Buy to Hold.

The downgrade comes amid result 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 more than seven percent.

Latest Ratings for GALT

DateFirmActionFromTo
Mar 2017H.C. WainwrightUpgradesNeutralBuy
Oct 2016FBR CapitalDowngradesOutperformMarket Perform
Sep 2016H.C. WainwrightDowngradesBuyNeutral

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