Galecto Inc reports results for the quarter ended in June - Earnings Summary

Damora Therapeutics

13/08/2024 15:45

* Galecto Inc  GLTO.OQ  reported a quarterly adjusted loss
of 16
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -41
cents.  The mean expectation of two analysts for the quarter was
for a loss of 31 cents per share. Wall Street expected
results to range from -39 cents to -24 cents per share.
    * Reported revenue was zero​; analysts expected zero. 
    * Galecto Inc's reported EPS for the quarter was a loss
of 20
cents​.
    * The company reported a quarterly loss of $5.34 million.
    * Galecto Inc shares had risen by 7.4% this quarter and
lost 29.3%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 19.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 1 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "strong buy"

Wall Street's median 12-month price target for Galecto Inc is
$5.50 
This summary was machine generated from LSEG data August 13 at
02:44 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.31          -0.16          Beat
 Mar. 31 2024      -0.41          -0.20          Beat
 Dec. 31 2023      -0.31          -0.24          Beat
 Sep. 30 2023      -0.47          -0.30          Beat