Galectin Therapeutics: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Galectin Therapeutics (NASDAQ:GALT) reported Q3 earnings with an EPS of $-0.24, missing estimates by 50%. The company's revenue was unchanged from the same period last year. Previously, GALT beat EPS estimates which led to a 7.38% share price increase the following day.
November 13, 2023 | 1:50 pm
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NEGATIVE IMPACT
Galectin Therapeutics reported a significant earnings miss for Q3, with EPS at $-0.24 versus the expected $-0.16. No change in revenue from the same quarter last year was reported.
Missing earnings estimates by a substantial margin typically leads to negative investor sentiment and can cause a short-term decline in stock price. However, the impact may be somewhat mitigated by the fact that revenue did not decrease, indicating stability in the company's income.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100