UPDATE: Aegis Capital Downgrades Galectin Therapeutics
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
|Oct 2016||FBR Capital||Downgrades||Outperform||Market Perform|
|Sep 2016||H.C. Wainwright||Downgrades||Buy||Neutral|
|Sep 2016||Roth Capital||Downgrades||Buy||Sell|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.