Galena Biopharma fka GALE

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Galena Biopharma Inc. (NASDAQ:GALE) had its target price reduced by Maxim Group from $2.00 to $1.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s price objective indicates a potential upside of 116.36% from the stock’s previous close.

A number of large investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of Galena Biopharma by 8.4% in the first quarter. BlackRock Fund Advisors now owns 4,723,617 shares of the biotechnology company’s stock valued at $6,424,000 after buying an additional 366,359 shares during the perio,d. BlackRock Institutional Trust Company N.A. raised its stake in shares of Galena Biopharma by 3.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,198,008 shares of the biotechnology company’s stock valued at $5,709,000 after buying an additional 147,585 shares during the period. State Street Corp raised its stake in shares of Galena Biopharma by 1.7% in the first quarter. State Street Corp now owns 2,401,646 shares of the biotechnology company’s stock valued at $3,265,000 after buying an additional 40,524 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Galena Biopharma by 11.2% in the first quarter. Geode Capital Management LLC now owns 1,227,715 shares of the biotechnology company’s stock valued at $1,669,000 after buying an additional 123,736 shares during the period.

Several other brokerages have also recently weighed in on GALE. FBR & Co reiterated a “buy” rating and issued a $5.00 price target on shares of Galena Biopharma in a research report on Thursday, May 12th. Raymond James Financial Inc. cut Galena Biopharma from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 29th. Roth Capital reiterated a “buy” rating and issued a $5.00 price target on shares of Galena Biopharma in a research report on Thursday, June 9th. Zacks Investment Research upgraded Galena Biopharma from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research report on Tuesday, July 12th. Finally, Noble Financial reiterated a “buy” rating and issued a $3.50 price target on shares of Galena Biopharma in a research report on Friday, May 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $2.39.

Galena Biopharma (NASDAQ:GALE) opened at 0.4622 on Wednesday. The firm’s market cap is $84.05 million. The firm has a 50-day moving average price of $0.75 and a 200-day moving average price of $1.14. Galena Biopharma has a one year low of $0.28 and a one year high of $2.49.

Galena Biopharma (NASDAQ:GALE) last released its earnings results on Tuesday, August 9th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.11. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, equities analysts expect that Galena Biopharma will post ($0.23) EPS for the current fiscal year.

Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.

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