Zacks Investment Research Upgrades Galena Biopharma Inc (GALE) to Strong-Buy

Galena Biopharma Inc (NASDAQ:GALE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday. The firm currently has a $0.75 price objective on the biotechnology company’s stock. Zacks Investment Research’s target price suggests a potential upside of 19.39% from the stock’s current price.

According to Zacks, “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. “

Other equities research analysts also recently issued reports about the company. Maxim Group raised their price target on Galena Biopharma from $1.00 to $4.00 and gave the stock a “buy” rating in a research note on Friday, December 2nd. FBR & Co downgraded Galena Biopharma from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $11.00 to $4.00 in a research note on Monday, February 6th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $2.93.

Analyst Recommendations for Galena Biopharma (NASDAQ:GALE)

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Shares of Galena Biopharma (NASDAQ:GALE) traded up 0.4638% during trading on Monday, hitting $0.6282. The company’s stock had a trading volume of 2,821,941 shares. Galena Biopharma has a 1-year low of $0.53 and a 1-year high of $49.80. The firm’s 50 day moving average is $0.86 and its 200-day moving average is $1.21. The company’s market capitalization is $6.82 million.

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In other news, major shareholder Hudson Bay Capital Management sold 2,363,441 shares of the stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $0.84, for a total transaction of $1,985,290.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

Galena Biopharma Company Profile

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.

5 Day Chart for NASDAQ:GALE

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