GlycoMimetics, Inc. (GLYC) Coverage Initiated by Analysts at Roth Capital
Stock analysts at Roth Capital started coverage on shares of GlycoMimetics, Inc. (NASDAQ:GLYC) in a research report issued on Monday. The brokerage set a “buy” rating and a $25.00 price target on the biotechnology company’s stock. Roth Capital’s price objective would suggest a potential upside of 132.34% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, July 18th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $21.00 price target on shares of GlycoMimetics in a research note on Wednesday, October 4th. ValuEngine raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 price target (up previously from $13.00) on shares of GlycoMimetics in a research note on Friday, August 4th. Finally, BidaskClub lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. GlycoMimetics has a consensus rating of “Buy” and an average price target of $16.50.
GlycoMimetics (GLYC) traded up 2.28% on Monday, reaching $10.76. 724,260 shares of the company’s stock traded hands. The stock’s 50 day moving average is $12.56 and its 200 day moving average is $10.40. GlycoMimetics has a 52-week low of $3.82 and a 52-week high of $16.94. The firm’s market cap is $352.10 million.
GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.07. On average, equities research analysts predict that GlycoMimetics will post ($1.22) EPS for the current fiscal year.
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In other news, SVP Helen M. Thackray sold 2,000 shares of GlycoMimetics stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.00, for a total value of $26,000.00. Following the sale, the senior vice president now directly owns 150,615 shares in the company, valued at $1,957,995. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 43.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Prentiss Smith & Co. Inc. raised its holdings 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 valued at $112,000 after purchasing an additional 3,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of GlycoMimetics in the second quarter valued at approximately $146,000. Fox Run Management L.L.C. acquired a new stake in shares of GlycoMimetics in the third quarter valued at approximately $173,000. Citadel Advisors LLC acquired a new stake in shares of GlycoMimetics in the second quarter valued at approximately $249,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of GlycoMimetics by 172.4% in the second quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock valued at $350,000 after purchasing an additional 19,859 shares during the last quarter. Institutional investors own 92.63% of the company’s stock.
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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