Oppenheimer raised the firm’s price target on Galecto to $10 from $9 and keeps an Outperform rating on the shares after speaking with management following the completion of its strategic transaction that prioritizes focus on oncology and liver diseases by leveraging GB1211 while bolstering the pipeline. The firm sees Galecto’s equity-financed acquisition of global rights to BRM-1420 as providing a differentiated asset with financial efficiency that meanwhile enables continued development of GB1211. Oppenheimer believes BRM-1420 could address several unmet needs persisting in about 30% of all AML patients despite available therapies, and Galecto plans to file an IND at year-end 2025.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See today’s best-performing stocks on TipRanks >>

Read More on GLTO:

• Galecto Appoints Dr. Amy Wechsler to Board

• Galecto announces the appointment of Wechsler to its Board of Directors

• Arcadium confirms Rio approach, Apollo funds to acquire Barnes: Morning Buzz

• Galecto completes strategic review, will focus on oncology, liver disease

• Galecto plans to file IND for BRM-1420 in late 2025/early 2026