GlycoMimetics (NASDAQ:GLYC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

GLYC has been the topic of several other research reports. Jefferies Group reiterated a “buy” rating and issued a $21.00 price objective on shares of GlycoMimetics in a report on Wednesday, December 20th. Zacks Investment Research upgraded GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Monday, November 13th. SunTrust Banks reissued a “buy” rating and issued a $21.00 target price on shares of GlycoMimetics in a research note on Wednesday, October 4th. Stifel Nicolaus reissued a “buy” rating and issued a $23.00 target price on shares of GlycoMimetics in a research note on Thursday, December 14th. Finally, Cowen reissued a “buy” rating on shares of GlycoMimetics in a research note on Wednesday, December 6th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. GlycoMimetics currently has a consensus rating of “Buy” and a consensus price target of $21.00.

GlycoMimetics (NASDAQ GLYC) traded down $0.56 on Thursday, hitting $20.25. The stock had a trading volume of 424,900 shares, compared to its average volume of 530,311. The stock has a market capitalization of $695.34, a P/E ratio of -16.33 and a beta of 3.21. GlycoMimetics has a 1 year low of $3.82 and a 1 year high of $21.40.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. research analysts predict that GlycoMimetics will post -1.12 earnings per share for the current year.

In related news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $15.01, for a total value of $30,020.00. Following the sale, the senior vice president now directly owns 148,615 shares of the company’s stock, valued at $2,230,711.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in shares of GlycoMimetics by 159.4% in the second quarter. Bank of New York Mellon Corp now owns 92,911 shares of the biotechnology company’s stock worth $1,037,000 after purchasing an additional 57,091 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of GlycoMimetics in the second quarter worth about $965,000. Virtu KCG Holdings LLC bought a new stake in shares of GlycoMimetics in the second quarter worth about $569,000. Janus Henderson Group PLC bought a new stake in shares of GlycoMimetics in the second quarter worth about $5,598,000. Finally, Vanguard Group Inc. boosted its position in GlycoMimetics by 94.3% during the 2nd quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock valued at $9,421,000 after acquiring an additional 409,689 shares in the last quarter. 86.66% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at https://www.thecerbatgem.com/2018/01/15/bidaskclub-upgrades-glycomimetics-glyc-to-buy.html.

About GlycoMimetics

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.

Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

Receive News & Ratings for GlycoMimetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlycoMimetics and related companies with MarketBeat.com's FREE daily email newsletter.