Galectin Therapeutics (GALT) Gains Again on Takeover, NASH Trial Speculation

September 21, 2016 10:53 AM EDT

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Galectin Therapeutics (NASDAQ: GALT) is surging higher again as speculators reprice NASH stocks following Allergen's (NYSE: AGN) takeover of Tobira (NASDAQ: TBRA) yesterday. Today, on its call, Allergan's CEO said Tobira was a 'very competitive situation'

Yesterday, H.C. Wainwright analyst Ed Arce told StreetInsider that GALT has the best read-through given its anti-fibrosis NASH drug GR-MD-02. The Company expects to report the top line results from a Phase 2 clinical trial by the end of the month.

Shares of GALT are up 31%.

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