Galena Biopharma (GALE) Tops Q2 EPS by 11c
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Galena Biopharma (GALE) PT Cut to $1 at Maxim Group, Focus on GALE-401
August 10, 2016 7:20 AM EDTMaxim Group analyst Jason McCarthy cut his price target on Galena Biopharma (NASDAQ: GALE) to $1.00 (from $2.00) but maintained a Buy rating as the company works its way out of the penalty box.
McCarthy highlighted:
Galena reported 2Q16 with net income of $5.4M, resulting from a combination of decreased warrant liabilities (due to a decline in stock price), as well as purchase price liability for NeuVax (due to PRESENT termination), offset by $9.3M in operating expenses. The company... More
