Shares of GlycoMimetics Inc (NASDAQ:GLYC) have been assigned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.00.
A number of research analysts have recently commented on the company. BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Zacks Investment Research upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Cowen reiterated a “buy” rating on shares of GlycoMimetics in a report on Monday, August 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $24.00 price objective on shares of GlycoMimetics in a report on Sunday, August 12th. Finally, ValuEngine downgraded GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 17th.
In related news, SVP John L. Magnani sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $14.01, for a total transaction of $350,250.00. Following the transaction, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John L. Magnani sold 14,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $14.01, for a total value of $198,942.00. Following the transaction, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The disclosure for this sale can be found here. Company insiders own 26.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GLYC. BlackRock Inc. grew its stake in GlycoMimetics by 136.4% during the 2nd quarter. BlackRock Inc. now owns 2,803,151 shares of the biotechnology company’s stock worth $45,214,000 after buying an additional 1,617,375 shares during the last quarter. NEA Management Company LLC lifted its position in GlycoMimetics by 5.9% during the 2nd quarter. NEA Management Company LLC now owns 9,089,041 shares of the biotechnology company’s stock worth $146,606,000 after acquiring an additional 504,913 shares during the period. OppenheimerFunds Inc. lifted its position in GlycoMimetics by 18.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,961,194 shares of the biotechnology company’s stock worth $47,765,000 after acquiring an additional 456,269 shares during the period. Northern Trust Corp lifted its position in GlycoMimetics by 392.4% during the 2nd quarter. Northern Trust Corp now owns 416,092 shares of the biotechnology company’s stock worth $6,712,000 after acquiring an additional 331,581 shares during the period. Finally, Citadel Advisors LLC lifted its position in GlycoMimetics by 25.4% during the 2nd quarter. Citadel Advisors LLC now owns 1,453,077 shares of the biotechnology company’s stock worth $23,438,000 after acquiring an additional 294,224 shares during the period.
Shares of GLYC traded up $0.59 during mid-day trading on Monday, reaching $13.84. The company’s stock had a trading volume of 29,505 shares, compared to its average volume of 281,047. GlycoMimetics has a 12-month low of $10.56 and a 12-month high of $26.05. The company has a market cap of $570.51 million, a P/E ratio of -12.24 and a beta of 3.08.
GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. Analysts forecast that GlycoMimetics will post -1.24 EPS for the current year.
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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