GlycoMimetics (GLYC) Price Target Increased to $32.00 by Analysts at SunTrust Banks
GlycoMimetics (NASDAQ:GLYC) had its price target upped by equities researchers at SunTrust Banks to $32.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. SunTrust Banks’ price target points to a potential upside of 123.46% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised GlycoMimetics from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Friday, October 6th. Cowen reissued a “buy” rating on shares of GlycoMimetics in a report on Wednesday, December 6th. Jefferies Group reissued a “buy” rating and set a $16.00 target price on shares of GlycoMimetics in a report on Thursday, October 26th. Roth Capital initiated coverage on GlycoMimetics in a report on Monday, October 23rd. They set a “buy” rating and a $25.00 target price for the company. Finally, BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. GlycoMimetics has an average rating of “Buy” and an average price target of $19.17.
Shares of GlycoMimetics (GLYC) opened at $14.32 on Tuesday. GlycoMimetics has a one year low of $3.82 and a one year high of $16.94.
In related news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $13.00, for a total value of $26,000.00. Following the completion of the transaction, the senior vice president now directly owns 150,615 shares in the company, valued at $1,957,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 43.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prentiss Smith & Co. Inc. boosted its position in shares of GlycoMimetics by 42.9% during 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 period. Fox Run Management L.L.C. purchased a new position in shares of GlycoMimetics during the third quarter worth $173,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of GlycoMimetics in the second quarter valued at $146,000. Strs Ohio acquired a new stake in shares of GlycoMimetics in the second quarter valued at $115,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of GlycoMimetics in the second quarter valued at $143,000. Institutional investors and hedge funds own 86.81% of the company’s stock.
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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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