Shares of GlycoMimetics Inc (NASDAQ:GLYC) have been assigned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.25.
Several analysts have recently commented on the company. Jefferies Financial Group downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. BidaskClub downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded GlycoMimetics from a “sell” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Wednesday, October 9th. SunTrust Banks downgraded GlycoMimetics from a “buy” rating to a “hold” rating and reduced their target price for the company from $23.00 to $5.00 in a research note on Monday, August 5th. Finally, ValuEngine downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Wednesday.
In other GlycoMimetics news, Director Daniel M. Junius purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $3.18 per share, with a total value of $31,800.00. Following the transaction, the director now owns 18,000 shares in the company, valued at $57,240. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bvf Partners L. P/Il purchased 1,668,746 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average cost of $3.18 per share, for a total transaction of $5,306,612.28. The disclosure for this purchase can be found here. Company insiders own 26.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GLYC. California Public Employees Retirement System bought a new position in GlycoMimetics in the 3rd quarter valued at about $45,000. Aperio Group LLC bought a new position in GlycoMimetics in the 2nd quarter valued at about $49,000. Tower Research Capital LLC TRC lifted its position in GlycoMimetics by 7,635.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,001 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 13,820 shares in the last quarter. Prentiss Smith & Co. Inc. bought a new position in GlycoMimetics in the 3rd quarter valued at about $73,000. Finally, State Board of Administration of Florida Retirement System bought a new position in GlycoMimetics in the 2nd quarter valued at about $123,000.
GlycoMimetics stock traded up $0.30 during trading hours on Friday, reaching $6.26. 27,506 shares of the company’s stock were exchanged, compared to its average volume of 180,925. The company has a quick ratio of 17.54, a current ratio of 17.54 and a debt-to-equity ratio of 0.02. The firm’s 50 day simple moving average is $4.79 and its 200 day simple moving average is $8.12. GlycoMimetics has a twelve month low of $2.64 and a twelve month high of $14.28. The firm has a market capitalization of $252.25 million, a PE ratio of -5.31 and a beta of 2.74.
GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.08. Analysts anticipate that GlycoMimetics will post -1.51 EPS for the current year.
GlycoMimetics Company Profile
GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.
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