Brokerages Set GlycoMimetics Inc. (GLYC) PT at $14.33
GlycoMimetics Inc. (NASDAQ:GLYC) has earned a consensus recommendation of “Buy” from the six analysts that are presently covering the stock. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.33.
GLYC has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on shares of GlycoMimetics from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Jefferies Group reaffirmed a “buy” rating on shares of GlycoMimetics in a report on Friday, August 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 price target on shares of GlycoMimetics in a report on Sunday, August 7th. Zacks Investment Research downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Cowen and Company assumed coverage on shares of GlycoMimetics in a report on Monday, August 15th. They set an “outperform” rating on the stock.
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In other news, VP Helen M. Thackray sold 4,000 shares of GlycoMimetics stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $7.00, for a total transaction of $28,000.00. Following the sale, the vice president now owns 156,715 shares in the company, valued at $1,097,005. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 52.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in GlycoMimetics by 1.7% in the first quarter. Wellington Management Group LLP now owns 2,669,015 shares of the company’s stock valued at $15,907,000 after buying an additional 43,652 shares during the last quarter. Acadian Asset Management LLC boosted its stake in GlycoMimetics by 1,120.2% in the second quarter. Acadian Asset Management LLC now owns 25,307 shares of the company’s stock valued at $183,000 after buying an additional 23,233 shares during the last quarter. Strs Ohio bought a new stake in GlycoMimetics during the second quarter valued at about $115,000. Bank of New York Mellon Corp bought a new stake in GlycoMimetics during the second quarter valued at about $216,000. Finally, California State Teachers Retirement System bought a new stake in GlycoMimetics during the second quarter valued at about $156,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.
GlycoMimetics (NASDAQ:GLYC) opened at 6.60 on Friday. GlycoMimetics has a one year low of $3.70 and a one year high of $9.25. The stock has a 50 day moving average of $6.28 and a 200-day moving average of $7.20. The company’s market cap is $152.23 million.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Friday, November 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.10. On average, equities analysts predict that GlycoMimetics will post ($1.58) EPS for the current fiscal year.
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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