Galena Biopharma fka GALE

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Galena Biopharma Sees Significant Drop in Short Interest (GALE)

Galena Biopharma (NASDAQ:GALE) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 21,036,843 shares, a decrease of 19.8% from the June 13th total of 26,236,968 shares, Analyst Ratings Network reports. Approximately 17.9% of the company’s stock are short sold. Based on an average daily trading volume, of 4,135,717 shares, the days-to-cover ratio is currently 5.1 days.

Separately, analysts at Noble Financial reiterated a “buy” rating on shares of Galena Biopharma in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $6.50.
Shares of Galena Biopharma (NASDAQ:GALE) opened at 2.58 on Friday. Galena Biopharma has a 1-year low of $1.65 and a 1-year high of $7.77. The stock’s 50-day moving average is $2.83 and its 200-day moving average is $3.40. The company’s market cap is $304.5 million.

Galena Biopharma (NASDAQ:GALE) last released its earnings data on Tuesday, May 6th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.10) by $0.08. The company had revenue of $2.17 million for the quarter, compared to the consensus estimate of $2.09 million. On average, analysts predict that Galena Biopharma will post $-0.30 earnings per share for the current fiscal year.

Galena Biopharma, Inc (NASDAQ:GALE), formerly RXi Pharmaceuticals Corporation, incorporated on April 3, 2006, is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using targeted biotherapeutics.

http://www.mideasttime.com/galena-biopharma-sees-significant-drop-in-short-interest-gale/175013/