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H.C. Wainwright initiated coverage of Galectin Therapeutics (NASDAQ:GALT), a $94.3 million market cap company, with a buy rating and a $6.00 price target on Tuesday. The stock has shown strong momentum with an 11% gain over the past week.
The research firm cited the company’s lead asset belapectin as the only therapy in development for MASH cirrhosis and portal hypertension. Belapectin is an intravenously administered galectin-3 inhibitor targeting a protein involved in cell signaling, differentiation, apoptosis, and inflammation. According to InvestingPro data, analysts have set an ambitious $11 price target for the stock, though the company currently faces financial health challenges.
H.C. Wainwright noted that abnormal galectin-3 expression is implicated in multiple diseases including cancer, heart failure, and metabolic dysfunction-associated steatohepatitis (MASH). Galectin Therapeutics is specifically developing belapectin to treat MASH-associated liver cirrhosis and portal hypertension.
The firm highlighted that no approved therapies currently exist for this patient population, creating a potential market opportunity for Galectin’s treatment candidate.
Initial clinical trials of belapectin have shown "compelling trends towards preventing and/or halting signs and symptoms of the disease," according to H.C. Wainwright’s research note.
In other recent news, Galectin Therapeutics Inc. announced positive results from its NAVIGATE trial at the European Association for the Study of the Liver 2025 Congress. The trial assessed the efficacy of belapectin, a galectin-3 inhibitor, in patients with metabolic dysfunction-associated steatohepatitis (MASH) cirrhosis and portal hypertension. The study involved 355 patients, and results showed a 49.3% reduction in the incidence of new esophageal varices for those treated with belapectin at a dose of 2 mg/kg of lean body mass, compared to the placebo group. This result was statistically significant, indicating the potential of belapectin in preventing serious complications associated with portal hypertension. Additionally, the study reported a significant reduction in liver stiffness among patients receiving the 2 mg/kg dose, suggesting a slowing of liver fibrosis progression. The safety profile of belapectin was encouraging, with adverse events comparable across treatment and placebo groups. These findings highlight belapectin’s potential to address unmet needs in patients with MASH cirrhosis. The company’s development program for belapectin has received Fast Track designation by the U.S. Food and Drug Administration.
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