GlycoMimetics, Inc. (NASDAQ:GLYC) Given Average Rating of “Buy” by Brokerages
GlycoMimetics, Inc. (NASDAQ:GLYC) has earned an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.33.
A number of equities research analysts recently commented on GLYC shares. Zacks Investment Research upgraded GlycoMimetics from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Tuesday, May 2nd. Cowen and Company reiterated a “buy” rating on shares of GlycoMimetics in a research report on Tuesday, May 9th. Canaccord Genuity reiterated a “buy” rating and issued a $12.00 target price on shares of GlycoMimetics in a research report on Friday, May 19th. ValuEngine upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC dropped their target price on GlycoMimetics from $16.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, June 6th.
Shares of GlycoMimetics (GLYC) traded down 0.19% during mid-day trading on Tuesday, hitting $10.79. 291,500 shares of the stock were exchanged. The stock’s 50 day moving average is $11.17 and its 200-day moving average is $7.06. The stock’s market cap is $265.87 million. GlycoMimetics has a 12 month low of $3.82 and a 12 month high of $16.94.
GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. On average, analysts anticipate that GlycoMimetics will post ($1.41) EPS for the current year.
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In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $15.57, for a total value of $31,140.00. Following the completion of the transaction, the senior vice president now directly owns 152,615 shares of the company’s stock, valued at $2,376,215.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 43.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GLYC. Prentiss Smith & Co. Inc. increased its position in shares of GlycoMimetics by 42.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $112,000 after buying an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of GlycoMimetics during the fourth quarter worth about $172,000. Sphera Funds Management LTD. increased its position in shares of GlycoMimetics by 4.0% in the first quarter. Sphera Funds Management LTD. now owns 775,796 shares of the biotechnology company’s stock worth $4,213,000 after buying an additional 30,000 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of GlycoMimetics by 14.9% in the first quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock worth $17,467,000 after buying an additional 416,834 shares during the last quarter. 62.00% of the stock is owned by institutional investors.
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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