Galecto Inc reports results for the quarter ended in September 30 - Earnings Summary

Damora Therapeutics

02/11/2024 02:12

* Galecto Inc  GLTO.OQ  reported a quarterly adjusted loss
of
$3.39​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of $-7.50.  The mean expectation of two analysts for the quarter
was for a loss of $4.10 per share. Wall Street expected
results to range from $-4.50 to $-3.70 per share.
    * Reported revenue was zero​; analysts expected zero. 
    * Galecto Inc's reported EPS for the quarter was a loss of
$3.39​.
    * The company reported a quarterly loss of $3.88 million.
    * Galecto Inc shares had fallen by 43.6% this quarter and
lost 61.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 25.4%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

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
$10.00 
This summary was machine generated from LSEG data November 2 at
02:12 a.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
 Sep. 30 2024      -4.10          -3.39          Beat
 Jun. 30 2024      -7.87          -4.00          Beat
 Mar. 31 2024      -10.25         -5.00          Beat
 Dec. 31 2023      -7.72          -6.00          Beat