Piper Sandler Initiates Coverage of Galera Therapeutics With Overweight Recommendation

On February 21, 2023, Piper Sandler initiated coverage of Galera Therapeutics with a Overweight recommendation.

Analyst Price Forecast Suggests 493.02% Upside

As of February 19, 2023, the average one-year price target for Galera Therapeutics is $10.20. The forecasts range from a low of $2.02 to a high of $18.90. The average price target represents an increase of 493.02% from its latest reported closing price of $1.72.

The projected annual revenue for Galera Therapeutics is $8MM. The projected annual EPS is -$1.31.

What are large shareholders doing?

Sofinnova Investments holds 3,084K shares representing 7.20% ownership of the company. No change in the last quarter.

Novo Holdings A holds 2,459K shares representing 5.74% ownership of the company. No change in the last quarter.

Blackstone Group holds 1,679K shares representing 3.92% ownership of the company. No change in the last quarter.

Sectoral Asset Management holds 1,667K shares representing 3.89% ownership of the company.

Tekla Capital Management holds 898K shares representing 2.10% ownership of the company. No change in the last quarter.

What is the Fund Sentiment?

There are 50 funds or institutions reporting positions in Galera Therapeutics. This is a decrease of 7 owner(s) or 12.28% in the last quarter. Average portfolio weight of all funds dedicated to GRTX is 0.03%, an increase of 4.72%. Total shares owned by institutions increased in the last three months by 14.40% to 13,234K shares. The put/call ratio of GRTX is 0.01, indicating a bullish outlook.

Galera Therapeutics Background Information
(This description is provided by the company.)

Galera Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing a pipeline of novel, proprietary therapeutics that have the potential to transform radiotherapy in cancer. Galera’s lead product candidate is avasopasem manganese (GC4419, also referred to as avasopasem), a highly selective small molecule superoxide dismutase (SOD) mimetic initially being developed for the reduction of radiation-induced severe oral mucositis (SOM). Avasopasem is being studied in the Phase 3 ROMAN trial to assess its ability to reduce the incidence and severity of SOM induced by radiotherapy in patients with locally advanced head and neck cancer (HNC), its lead indication. It is also being studied in the EUSOM Phase 2a multi-center trial in Europe assessing the safety of avasopasem in patients with HNC undergoing standard-of-care radiotherapy, the AESOP Phase 2a trial to assess its ability to reduce the incidence of esophagitis induced by radiotherapy in patients with lung cancer, and a Phase 2 trial in hospitalized patients who are critically ill with COVID-19. A pilot Phase 1/2 trial of avasopasem in combination with stereotactic body radiation therapy (SBRT) in patients with locally advanced pancreatic cancer (LAPC) has completed enrollment and reported interim results, with follow-up ongoing. The FDA granted Fast Track and Breakthrough Therapy designations to avasopasem for the reduction of SOM induced by radiotherapy. Galera’s second dismutase mimetic product candidate, GC4711, is being developed specifically to augment the anti-cancer efficacy of SBRT, and is currently being studied in the GRECO-1 Phase 1/2 trial in combination with SBRT in patients with non-small cell lung cancer. Galera is headquartered in Malvern, PA.

This article originally appeared on Fintel

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.