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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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.
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IMPORTANCE 80
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