BidaskClub upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of GlycoMimetics from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Jefferies Group reissued a buy rating and set a $21.00 target price on shares of GlycoMimetics in a research report on Wednesday, December 20th. Stifel Nicolaus reissued a buy rating and set a $23.00 target price on shares of GlycoMimetics in a research report on Thursday, December 14th. SunTrust Banks increased their target price on shares of GlycoMimetics to $32.00 and gave the stock a buy rating in a research report on Tuesday, December 12th. Finally, Cowen reissued a buy rating on shares of GlycoMimetics in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. GlycoMimetics currently has a consensus rating of Buy and an average target price of $21.00.
GlycoMimetics (NASDAQ GLYC) traded down $0.56 on Thursday, reaching $20.25. 424,900 shares of the company were exchanged, compared to its average volume of 530,311. The firm has a market cap of $695.34, a P/E ratio of -16.33 and a beta of 3.21. GlycoMimetics has a 12-month low of $3.82 and a 12-month high of $21.40.
GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.04. equities analysts predict that GlycoMimetics will post -1.12 earnings per share for the current fiscal year.
In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $15.01, for a total value of $30,020.00. Following the completion of the transaction, the senior vice president now owns 148,615 shares in the company, valued at approximately $2,230,711.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 43.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLYC. Dynamic Technology Lab Private Ltd purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $146,000. Fox Run Management L.L.C. purchased a new position in GlycoMimetics in the 3rd quarter worth approximately $173,000. Citadel Advisors LLC purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $249,000. Russell Investments Group Ltd. boosted its holdings in GlycoMimetics by 172.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after acquiring an additional 19,859 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $569,000. Hedge funds and other institutional investors own 86.66% of the company’s stock.
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GlycoMimetics Company Profile
GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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