H.C. Wainwright analyst Boobalan Pachaiyappan lowered the firm’s price target on Galecto to $2 from $12 and keeps a Buy rating on the shares after the company discontinued GB0139 development following the GALACTIC-1 trial failure. The firm says there remains intrinsic value in the Galecto pipeline. The company’s assets do not share a molecular structure with GB0139, the analyst tells investors in a research note.
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Read More on GLTO:
- SVB downgrades Galecto after ‘disappointing’ GB0139 results
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