GlycoMimetics, Inc. (NASDAQ:GLYC)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks, Inc. in a research report issued to clients and investors on Wednesday. They presently have a $21.00 price target on the biotechnology company’s stock. SunTrust Banks, Inc.’s price target points to a potential upside of 57.54% from the stock’s previous close.

A number of other equities research analysts have also weighed in on GLYC. Zacks Investment Research lowered GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “buy” rating and set a $17.00 price target (up previously from $13.00) on shares of GlycoMimetics in a research note on Friday, August 4th. ValuEngine upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC dropped their price target on GlycoMimetics from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. GlycoMimetics currently has an average rating of “Hold” and a consensus target price of $14.20.

GlycoMimetics (NASDAQ GLYC) traded down 1.70% during trading on Wednesday, reaching $13.33. 184,677 shares of the company’s stock traded hands. GlycoMimetics has a one year low of $3.82 and a one year high of $16.94. The firm’s market cap is $436.20 million. The company has a 50 day moving average of $12.19 and a 200 day moving average of $9.74.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.07. Equities research analysts predict that GlycoMimetics will post ($1.22) EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/04/glycomimetics-inc-glyc-receives-buy-rating-from-suntrust-banks-inc.html.

In other news, SVP Helen M. Thackray sold 2,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $13.00, for a total transaction of $26,000.00. Following the sale, the senior vice president now owns 150,615 shares in the company, valued at $1,957,995. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 43.80% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of GlycoMimetics by 14.9% during the first quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock worth $17,467,000 after acquiring an additional 416,834 shares during the last quarter. Franklin Resources Inc. boosted its position in GlycoMimetics by 85.9% in the second quarter. Franklin Resources Inc. now owns 1,859,079 shares of the biotechnology company’s stock valued at $20,747,000 after buying an additional 859,100 shares during the last quarter. Jennison Associates LLC purchased a new stake in GlycoMimetics in the second quarter valued at approximately $17,786,000. FMR LLC purchased a new stake in GlycoMimetics in the second quarter valued at approximately $16,780,000. Finally, Vanguard Group Inc. boosted its position in GlycoMimetics by 94.3% in the second quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock valued at $9,421,000 after buying an additional 409,689 shares during the last quarter. Institutional investors and hedge funds own 92.63% of the company’s stock.

About GlycoMimetics

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.

Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

Receive News & Ratings for GlycoMimetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlycoMimetics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.