Galena Biopharma Receives Average Rating of “Buy” from Brokerages (NASDAQ:GALE)
Posted by Jax Bronson on Sep 22nd, 2015 // No Comments
Galena Biopharma logoShares of Galena Biopharma (NASDAQ:GALE) have earned an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Analyst Ratings Net reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $4.86.
Shares of Galena Biopharma (NASDAQ:GALE) traded down 1.60% during mid-day trading on Tuesday, reaching $1.85. The company’s stock had a trading volume of 1,388,638 shares. Galena Biopharma has a 12 month low of $1.10 and a 12 month high of $2.47. The firm’s market cap is $299.17 million. The company has a 50-day moving average of $1.58 and a 200-day moving average of $1.58.
Galena Biopharma (NASDAQ:GALE) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $3.38 million for the quarter, compared to analyst estimates of $3.54 million. During the same quarter last year, the company posted ($0.17) earnings per share. The business’s revenue for the quarter was up 47.0% compared to the same quarter last year. On average, analysts predict that Galena Biopharma will post ($0.32) earnings per share for the current year.
A number of equities analysts recently commented on GALE shares. Maxim Group reiterated a “buy” rating and set a $7.00 price objective on shares of Galena Biopharma in a research note on Thursday, May 28th. Roth Capital restated a “buy” rating and issued a $8.00 price target on shares of Galena Biopharma in a research note on Tuesday, June 16th. Zacks downgraded shares of Galena Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Cantor Fitzgerald restated a “sell” rating and set a $2.00 price target on shares of Galena Biopharma in a report on Friday, August 7th. Finally, MLV & Co. reiterated a “buy” rating and issued a $5.00 price objective on shares of Galena Biopharma in a research note on Friday, August 7th.
Galena Biopharma, Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing targeted oncology therapeutics. Its development portfolio ranges from mid- to late-stage clinical assets, including immunotherapy program led by its lead product NeuVax (NASDAQ:GALE), which is in Phase III clinical trial and is a targeted cancer immunotherapy. GALE-301 is an immunogenic peptide and can stimulate cytotoxic T lymphocytes to recognize and destroy Folate Binding Protein-expressing cancer cells. GALE-401 is a controlled release formulation of anagrelide. Its commercial drugs include Abstral (fentanyl) Sublingual Tablets is a treatment option for inadequately controlled breakthrough cancer pain and Zuplenz (ondansetron) Oral Soluble Film is approved by the Food and Drug Administration in adult patients for the prevention of emetogenic chemotherapy-induced nausea and vomiting, radiotherapy-induced nausea and vomiting, and post-operative nausea and vomiting.
