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Fly News Breaks for September 28, 2016
GALT
Sep 28, 2016 | 08:25 EDT
Roth Capital analyst Sa'ar Yaniv downgraded Galectin Therapeutics to Sell from Buy after the company announced that NASH-FX, GR-MD-02's Phase 2a study in NASH fibrosis, failed both primary and secondary endpoints. The analyst estimates Galectin has approximately $15M, sufficient to last through mid-2017, with the next significant milestone likely in December 2017. Yaniv expects the shares to continue to experience downward pressure over the coming 15 months. He lowered his price target on the stock to 75c from $3.
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