GlycoMimetics, Inc. (GLYC) Upgraded to Hold by ValuEngine
GlycoMimetics, Inc. (NASDAQ:GLYC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.
Several other equities research analysts have also recently issued reports on GLYC. Zacks Investment Research raised GlycoMimetics from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, July 18th. Stifel Nicolaus reissued a “buy” rating and set a $13.00 target price on shares of GlycoMimetics in a research note on Tuesday, June 6th. Jefferies Group LLC cut their target price on GlycoMimetics from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, June 6th. Canaccord Genuity reissued a “buy” rating and set a $12.00 target price on shares of GlycoMimetics in a research note on Friday, May 19th. Finally, SunTrust Banks, Inc. set a $21.00 target price on GlycoMimetics and gave the stock a “buy” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.20.
Shares of GlycoMimetics (NASDAQ:GLYC) traded down 1.48% during trading on Friday, hitting $12.02. The stock had a trading volume of 278,149 shares. The firm’s 50-day moving average is $11.28 and its 200 day moving average is $8.71. GlycoMimetics has a 52-week low of $3.82 and a 52-week high of $16.94. The firm’s market cap is $393.33 million.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.07. On average, analysts expect that GlycoMimetics will post ($1.22) EPS for the current year.
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Large investors have recently bought and sold shares of the company. Sphera Funds Management LTD. boosted its stake in GlycoMimetics by 4.0% in the first quarter. Sphera Funds Management LTD. now owns 775,796 shares of the biotechnology company’s stock valued at $4,213,000 after buying an additional 30,000 shares during the period. Wellington Management Group LLP boosted its stake in GlycoMimetics by 14.9% in the first quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock valued at $17,467,000 after buying an additional 416,834 shares during the period. Prentiss Smith & Co. Inc. boosted its stake in 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 buying an additional 3,000 shares during the period. Private Capital Advisors Inc. acquired a new stake in GlycoMimetics during the second quarter valued at about $446,000. Finally, Russell Investments Group Ltd. boosted its stake in 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 buying an additional 19,859 shares during the period. 92.63% of the stock is owned by institutional investors.
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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