FBR Capital Downgrades Galena Biopharma Inc to Market Weight with Price Target $4

Brokerage firm FBR Capital Downgrades its rating on Galena Biopharma Inc(GALE). As per the latest information, FBR Capital Lowers the price target to $4 per share from a prior target of $11. The shares have been rated Market Weight. Previously, the analysts had a Outperform rating on the shares. The rating by FBR Capital was issued on Feb 6, 2017.

In a different note, On Feb 2, 2017, Maxim Group said it Downgrades its rating on Galena Biopharma Inc. The shares have been rated ‘Hold’ by the firm.

Galena Biopharma Inc (GALE) shares turned negative on Tuesdays trading session with the shares closing down -0.01 points or -0.71% at a volume of 42,60,239. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.52. The peak price level was also seen at $1.52 while the days lowest was $1.3. Finally the shares closed at $1.4. The 52-week high of the shares is $49.802 while the 52-week low is $1.02. According to the latest information available, the market cap of the company is $15 M.

Galena Biopharma Inc(GALE) last announced its earnings results on Nov 9, 2016 for Fiscal Year 2016 and Q3.Earnings per share were $-0.02. The reported EPS was above estimates by $0.03 or 60.00%. Analysts had estimated an EPS of $-0.05.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Ryan Dunlap (Former Chief Financial Officer) sold 126,875 shares at $2.18 per share price.

Galena Biopharma Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing targeted oncology therapeutics. Its development portfolio ranges from mid- to late-stage clinical assets including immunotherapy program led by its lead product NeuVax (nelipepimut-S) which is in Phase III clinical trial and is a targeted cancer immunotherapy. NeuVax is the immunodominant nonapeptide derived from the extracellular domain of the HER2 protein a target for therapeutic intervention in breast and gastric carcinomas. GALE-301 is an immunogenic peptide and can stimulate cytotoxic T lymphocytes to recognize and destroy Folate Binding Protein-expressing cancer cells. GALE-401 is a controlled release formulation of anagrelide. Its commercial drug Abstral (fentanyl) Sublingual Tablets is a treatment option for inadequately controlled breakthrough cancer pain.

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