GlycoMimetics Inc (NASDAQ:GLYC) has been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $28.25.
GLYC has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on shares of GlycoMimetics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, March 7th. BidaskClub downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research report on Thursday, March 8th. Zacks Investment Research downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Finally, ValuEngine raised shares of GlycoMimetics from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd.
In other GlycoMimetics news, CFO Brian M. Hahn sold 19,345 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $18.04, for a total value of $348,983.80. Following the completion of the transaction, the chief financial officer now owns 19,345 shares in the company, valued at approximately $348,983.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director M James Barrett sold 9,539 shares of the company’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $17.81, for a total transaction of $169,889.59. The disclosure for this sale can be found here. 26.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GLYC. OppenheimerFunds Inc. bought a new position in GlycoMimetics in the 1st quarter worth about $40,655,000. Redmile Group LLC grew its position in GlycoMimetics by 59.0% in the 4th quarter. Redmile Group LLC now owns 1,930,668 shares of the biotechnology company’s stock worth $32,416,000 after purchasing an additional 716,580 shares during the last quarter. AXA bought a new position in GlycoMimetics in the 4th quarter worth about $8,579,000. BlackRock Inc. grew its position in GlycoMimetics by 89.1% in the 4th quarter. BlackRock Inc. now owns 991,948 shares of the biotechnology company’s stock worth $16,655,000 after purchasing an additional 467,338 shares during the last quarter. Finally, Columbus Circle Investors grew its position in GlycoMimetics by 130.7% in the 1st quarter. Columbus Circle Investors now owns 561,096 shares of the biotechnology company’s stock worth $9,107,000 after purchasing an additional 317,932 shares during the last quarter.
Shares of GLYC traded down $0.70 during midday trading on Tuesday, hitting $14.63. The company had a trading volume of 798,049 shares, compared to its average volume of 723,101. The company has a market capitalization of $627.26 million, a P/E ratio of -12.95 and a beta of 3.42. GlycoMimetics has a 52 week low of $10.06 and a 52 week high of $26.05.
GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Thursday, May 3rd. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.05). sell-side analysts expect that GlycoMimetics will post -1.18 earnings per share for the current year.
GlycoMimetics Company Profile
GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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