The stock of Galena Biopharma Inc (NASDAQ:GALE) reached all time low today, Nov, 29 and still has $2.90 target or 7.00% below today’s $3.12 share price. This indicates more downside for the $32.45M company. This technical setup was reported by Barchart.com. If the $2.90 PT is reached, the company will be worth $2.27M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 449,380 shares traded hands or 52.62% 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 EPS, up 66.25% or $1.06 from last year’s $-1.6 per share. After $-0.40 actual EPS 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. Roth Capital maintained it with “Buy” rating and $6 target price in Tuesday, November 10 report. The firm earned “Buy” rating on Tuesday, November 10 by TH Capital. The stock of Galena Biopharma Inc (NASDAQ:GALE) has “Outperform” rating given on Wednesday, September 9 by Raymond James. Cantor Fitzgerald maintained the shares of GALE in a report on Friday, August 7 with “Sell” rating. The firm has “Buy” rating by Zacks given on Wednesday, August 12. The company was maintained on Friday, August 7 by MLV. The rating was maintained by Roth Capital with “Buy” on Friday, March 11. As per Tuesday, December 8, the company rating was upgraded by Cantor Fitzgerald. The company was upgraded on Thursday, November 12 by Oppenheimer. The rating was maintained by FBR Capital on Friday, July 22 with “Outperform”.
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 dropped, 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.
Ladenburg Thalmann Service reported 28,875 shares or 0% of all its holdings. Vanguard Gru holds 0% or 6.90M shares in its portfolio. Oppenheimer & has invested 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE). Proshare Limited Liability holds 0% or 22,430 shares in its portfolio. Guggenheim Cap Lc holds 55,646 shares or 0% of its portfolio. Barclays Public Limited Co owns 15 shares or 0% of their US portfolio. Atlanta Gru has 0% invested in the company for 25,000 shares. Blackrock Advsrs Limited Liability Company holds 84,271 shares or 0% of its portfolio. Prudential Financial Inc reported 14,900 shares or 0% of all its holdings. First Republic Invest Mngmt has invested 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE). The Pennsylvania-based Valley Natl Advisers has invested 0% in Galena Biopharma Inc (NASDAQ:GALE). The Illinois-based Northern Trust has invested 0% in Galena Biopharma Inc (NASDAQ:GALE). The California-based California State Teachers Retirement has invested 0% in Galena Biopharma Inc (NASDAQ:GALE). Financial Bank Of Ny Mellon Corp holds 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE) for 649,316 shares. Blackrock Institutional Tru Na holds 0% or 4.15M shares in its portfolio.
More recent Galena Biopharma Inc (NASDAQ:GALE) news were published by: Fool.com which released: “Galena Biopharma, Inc. in 3 Charts” on November 23, 2016. Also Fool.com published the news titled: “Why Galena Biopharma Inc. Is Being Obliterated Today” on June 29, 2016. Fool.com‘s news article titled: “These 2 Catalysts Helped Push Galena Biopharma, Inc. 31% Higher in May” with publication date: June 04, 2016 was also an interesting one.
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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