The stock of Galena Biopharma Inc (NASDAQ:GALE) hit a new 52-week low and has $3.03 target or 4.00% below today’s $3.16 share price. The 8 months bearish chart indicates high risk for the $32.84M company. The 1-year low was reported on Nov, 29 by Barchart.com. If the $3.03 price target is reached, the company will be worth $1.31M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 296,651 shares traded hands or 0.75% up from the average. Galena Biopharma Inc (NASDAQ:GALE) has declined 87.81% since April 26, 2016 and is downtrending. It has underperformed by 93.07% the S&P500.
Analysts await Galena Biopharma Inc (NASDAQ:GALE) to report earnings on March, 9. They expect $-0.54 earnings per share, up 66.25% or $1.06 from last year’s $-1.6 per share. After $-0.40 actual earnings per share reported by Galena Biopharma Inc for the previous quarter, Wall Street now forecasts 35.00% negative EPS growth.
Galena Biopharma Inc (NASDAQ:GALE) Ratings Coverage
Out of 7 analysts covering Galena Biopharma (NASDAQ:GALE), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Galena Biopharma has been the topic of 12 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was maintained by MLV with “Buy” on Friday, August 7. Zacks downgraded the shares of GALE in a report on Wednesday, August 12 to “Buy” rating. Maxim Group maintained the stock with “Buy” rating in Tuesday, December 22 report. As per Tuesday, December 8, the company rating was upgraded by Cantor Fitzgerald. The rating was maintained by Roth Capital on Friday, March 11 with “Buy”. FBR Capital maintained the stock with “Outperform” rating in Friday, July 22 report. Roth Capital maintained it with “Buy” rating and $6 target price in Tuesday, November 10 report. The stock of Galena Biopharma Inc (NASDAQ:GALE) has “Outperform” rating given on Wednesday, September 9 by Raymond James. The firm has “Buy” rating by TH Capital given on Tuesday, November 10. Oppenheimer upgraded Galena Biopharma Inc (NASDAQ:GALE) on Thursday, November 12 to “Outperform” rating.
According to Zacks Investment Research, “Galena Biopharma, Inc. is a biopharmaceutical company that develops innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. Galena Biopharma, Inc., formally known as RXi Pharmaceuticals Corporation, is based in Portland, Oregon.”
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 1.04, from 2.04 in 2016Q1. The ratio turned negative, as 7 funds sold all Galena Biopharma Inc shares owned while 16 reduced positions. 21 funds bought stakes while 26 increased positions. They now own 30.72 million shares or 9.48% more from 28.06 million shares in 2016Q1.
Voya Inv Mngmt Lc holds 82,079 shares or 0% of its portfolio. Next Financial Inc accumulated 500 shares or 0% of the stock. Sabby Mgmt Llc has 113,530 shares for 0% of their US portfolio. Blackrock accumulated 12,812 shares or 0% of the stock. Moreover, Tiaa Cref Management Limited Liability has 0% invested in Galena Biopharma Inc (NASDAQ:GALE) for 650,350 shares. Citigroup Incorporated has 28,686 shares for 0% of their US portfolio. Legal & General Public Ltd Company last reported 0% of its portfolio in the stock. Tower Rech Cap Limited Liability Company (Trc) holds 27,293 shares or 0% of its portfolio. National Bank & Trust Of New York Mellon last reported 0% of its portfolio in the stock. Brick Kyle Assoc last reported 755 shares in the company. Strs Ohio last reported 0% of its portfolio in the stock. Moreover, Morgan Stanley has 0% invested in Galena Biopharma Inc (NASDAQ:GALE) for 256,297 shares. Vanguard Gp Inc last reported 6.90 million shares in the company. Cwm Lc owns 500 shares or 0% of their US portfolio. Blackrock Inv Mngmt Limited Company holds 0% or 704,955 shares in its portfolio.
More news for Galena Biopharma Inc (NASDAQ:GALE) were recently published by: Fool.com, which released: “Galena Biopharma, Inc. in 3 Charts” on November 23, 2016. Fool.com‘s article titled: “Why Galena Biopharma Inc. Is Being Obliterated Today” and published on June 29, 2016 is yet another important article.
GALE Company Profile
Galena Biopharma, Inc., incorporated on April 3, 2006, is a biopharmaceutical company. The Firm 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. The Company’s NeuVax is in Phase III breast cancer clinical trial with several concurrent Phase II trials ongoing both as a single agent and in combination with other therapies. GALE-301 is in a Phase IIa clinical trial in ovarian and endometrial cancers and in a Phase Ib clinical trial given sequentially with GALE-302. The Company’s therapies utilize an immunodominant peptide combined with the immune adjuvant, recombinant human granulocyte macrophage-colony stimulating factor (rhGM-CSF, Leukine), and work by harnessing the patient’s own immune system to seek out and attack any residual cancer cells.
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