BidaskClub Downgrades GlycoMimetics (NASDAQ:GLYC) to Hold

GlycoMimetics (NASDAQ:GLYC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other brokerages have also issued reports on GLYC. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, May 8th. Cowen restated a “buy” rating on shares of GlycoMimetics in a research report on Friday, May 3rd. HC Wainwright restated a “buy” rating and set a $23.00 target price on shares of GlycoMimetics in a research report on Friday, April 12th. Finally, Piper Jaffray Companies initiated coverage on shares of GlycoMimetics in a research report on Friday, April 12th. They set an “overweight” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. GlycoMimetics presently has an average rating of “Buy” and a consensus price target of $23.00.

Shares of NASDAQ:GLYC traded up $0.13 on Tuesday, reaching $10.73. 420,686 shares of the company’s stock were exchanged, compared to its average volume of 221,179. GlycoMimetics has a twelve month low of $8.29 and a twelve month high of $18.20. The firm has a market cap of $504.79 million, a PE ratio of -9.10 and a beta of 2.64. The company has a quick ratio of 23.88, a current ratio of 23.88 and a debt-to-equity ratio of 0.02.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.01. On average, research analysts expect that GlycoMimetics will post -1.18 EPS for the current year.

Institutional investors have recently modified their holdings of the company. Candriam Luxembourg S.C.A. bought a new stake in shares of GlycoMimetics during the 1st quarter worth approximately $915,000. Virtus ETF Advisers LLC lifted its holdings in shares of GlycoMimetics by 3.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 29,862 shares of the biotechnology company’s stock worth $283,000 after acquiring an additional 1,057 shares during the period. Millennium Management LLC bought a new stake in shares of GlycoMimetics during the 4th quarter worth approximately $222,000. Vanguard Group Inc. lifted its stake in GlycoMimetics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,691,550 shares of the biotechnology company’s stock valued at $24,358,000 after purchasing an additional 26,951 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in GlycoMimetics in the 4th quarter valued at approximately $152,000.

About GlycoMimetics

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. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.

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Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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