BidaskClub upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a sell rating to a hold rating in a research report released on Tuesday.
A number of other equities analysts also recently issued reports on the company. Roth Capital set a $35.00 price target on GlycoMimetics and gave the stock a buy rating in a research report on Monday. Zacks Investment Research downgraded GlycoMimetics from a strong-buy rating to a hold rating in a research report on Tuesday, October 16th. ValuEngine raised GlycoMimetics from a buy rating to a strong-buy rating in a research report on Monday, October 8th. Cowen reaffirmed a buy rating on shares of GlycoMimetics in a research report on Monday, August 13th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $24.00 price target on shares of GlycoMimetics in a research report on Sunday, August 12th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $25.00.
Shares of NASDAQ:GLYC opened at $13.11 on Tuesday. The company has a market capitalization of $570.51 million, a P/E ratio of -11.60 and a beta of 3.08. GlycoMimetics has a 52 week low of $10.56 and a 52 week high of $26.05.
GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. On average, analysts forecast that GlycoMimetics will post -1.24 EPS for the current fiscal year.
In other news, SVP John L. Magnani sold 14,200 shares of the company’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $14.01, for a total transaction of $198,942.00. Following the transaction, the senior vice president now directly owns 86,593 shares of the company’s stock, valued at $1,213,167.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP John L. Magnani sold 25,000 shares of the company’s stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $14.01, for a total value of $350,250.00. Following the transaction, the senior vice president now directly owns 86,593 shares in the company, valued at $1,213,167.93. The disclosure for this sale can be found here. Corporate insiders own 26.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in GLYC. Northern Trust Corp grew its holdings in shares of GlycoMimetics by 21.3% during the first quarter. Northern Trust Corp now owns 84,511 shares of the biotechnology company’s stock valued at $1,372,000 after buying an additional 14,868 shares during the last quarter. BlackRock Inc. grew its holdings in shares of GlycoMimetics by 19.5% during the first quarter. BlackRock Inc. now owns 1,185,776 shares of the biotechnology company’s stock valued at $19,245,000 after buying an additional 193,828 shares during the last quarter. California Public Employees Retirement System purchased a new stake in shares of GlycoMimetics during the first quarter valued at $166,000. UBS Group AG grew its holdings in shares of GlycoMimetics by 41,685.0% during the first quarter. UBS Group AG now owns 125,355 shares of the biotechnology company’s stock valued at $2,035,000 after buying an additional 125,055 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of GlycoMimetics by 1,696.4% during the first quarter. Millennium Management LLC now owns 236,634 shares of the biotechnology company’s stock valued at $3,841,000 after buying an additional 223,461 shares during the last quarter.
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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