GlycoMimetics (NASDAQ:GLYC) has been given a $35.00 price target by investment analysts at Roth Capital in a report released on Thursday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Roth Capital’s target price would indicate a potential upside of 56.81% from the stock’s previous close.
A number of other research analysts also recently weighed in on GLYC. Zacks Investment Research downgraded GlycoMimetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 16th. Jefferies Group reissued a “buy” rating and issued a $16.00 price target on shares of GlycoMimetics in a research note on Thursday, October 26th. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Cowen reissued a “buy” rating on shares of GlycoMimetics in a research note on Wednesday, December 6th. Finally, SunTrust Banks increased their price target on GlycoMimetics to $32.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.67.
GlycoMimetics (NASDAQ GLYC) traded up $0.29 during mid-day trading on Thursday, hitting $22.32. The stock had a trading volume of 656,568 shares, compared to its average volume of 600,805. The firm has a market cap of $756.46, a P/E ratio of -18.00 and a beta of 3.40. GlycoMimetics has a one year low of $3.82 and a one year high of $25.20.
In related news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the sale, the senior vice president now owns 148,615 shares of the company’s stock, valued at approximately $2,230,711.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 43.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC raised its stake in GlycoMimetics by 607.1% during the 4th quarter. Citadel Advisors LLC now owns 413,119 shares of the biotechnology company’s stock worth $6,937,000 after buying an additional 354,697 shares during the period. Virtus Fund Advisers LLC acquired a new stake in GlycoMimetics during the 4th quarter worth $352,000. Artal Group S.A. raised its stake in GlycoMimetics by 23.5% during the 4th quarter. Artal Group S.A. now owns 250,000 shares of the biotechnology company’s stock worth $4,198,000 after buying an additional 47,500 shares during the period. Virtu Financial LLC acquired a new stake in GlycoMimetics during the 4th quarter worth $210,000. Finally, BlackRock Inc. raised its stake in GlycoMimetics by 89.1% during the 4th quarter. BlackRock Inc. now owns 991,948 shares of the biotechnology company’s stock worth $16,655,000 after buying an additional 467,338 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.
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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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