Galena Biopharma Inc (NASDAQ:GALE) currently trades at $1.12 which is about -12.50% lower than the 52-week high of $49.80. The trading volume at ready counter moved to 1.57M shares as compared to 1.59M shares average traded volume. The stock failed to get pushed above the $1.33 barrier, the intraday high, after opening at $1.29. Analysts have a consensus target price of $7.67 in the 12-month period. Its market capitalization has now reached to $9.43M.
Galena Biopharma Inc (NASDAQ:GALE) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 2 have assigned a hold rating, Zero says it’s a buy and 2 have assigned a strong buy rating to the company.
Galena Biopharma, Inc., a biopharmaceutical company, focuses on developing and commercializing oncology therapeutics that address major unmet medical needs. The companys lead product candidate, NeuVax (nelipepimut-S), is in Phase III clinical trials for the prevention of recurrence in early- stage and node-positive breast cancer with low to intermediate human epidermal growth factor receptor (HER2) expression; Phase IIb clinical trials in combination with Herceptin for HER2 1+/2+ node-positive and high-risk node-negative breast cancer treatment; and Phase II clinical trials in combination with trastuzumab for node positive and negative HER2 IHC 3+ patients. It also develops GALE-301 (folate binding protein), which is in Phase IIa clinical trials for the prevention of recurrence in patients with ovarian and endometrial cancers; GALE-302, a version of the E39 peptide that is in Phase 1b clinical trial for investigating a novel vaccination series; and GALE-401 (anagrelide controlled release), which is in a Phase II clinical trial for the treatment of patients with myeloproliferative neoplasms to lower elevated platelet levels. Galena Biopharma, Inc. has strategic development and commercialization partnership with Dr. Reddy’s Laboratories Ltd. for NeuVax in breast and gastric cancers. The company was formerly known as RXi Pharmaceuticals Corporation and changed its name to Galena Biopharma, Inc. in September 2011. Galena Biopharma, Inc. was founded in 2003 and is based in San Ramon, California.