GlycoMimetics (GLYC) PT Set at $35.00 by Roth Capital
GlycoMimetics (NASDAQ:GLYC) has been assigned a $35.00 price objective by equities research analysts at Roth Capital in a report released on Thursday. The firm presently has a “buy” rating on the biotechnology company’s stock. Roth Capital’s price target would indicate a potential upside of 56.81% from the stock’s previous close.
A number of other research firms have also recently commented on GLYC. BidaskClub upgraded GlycoMimetics from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Zacks Investment Research cut GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Stifel Nicolaus restated a “buy” rating and set a $23.00 target price on shares of GlycoMimetics in a research report on Thursday, December 14th. Jefferies Group restated a “buy” rating and set a $21.00 target price on shares of GlycoMimetics in a research report on Wednesday, December 20th. Finally, SunTrust Banks raised their target price on GlycoMimetics to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $22.67.
Shares of GlycoMimetics (NASDAQ GLYC) opened at $22.32 on Thursday. GlycoMimetics has a 12-month low of $3.82 and a 12-month high of $25.20. The company has a market capitalization of $817.58, a PE ratio of -18.00 and a beta of 3.40.
In related news, SVP Helen M. Thackray sold 2,000 shares of GlycoMimetics 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 in the company, valued at approximately $2,230,711.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 43.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GLYC. FMR LLC acquired a new stake in GlycoMimetics in the 2nd quarter worth about $16,780,000. Janus Henderson Group PLC acquired a new stake in GlycoMimetics in the 2nd quarter worth about $5,598,000. BlackRock Inc. boosted its holdings in GlycoMimetics by 89.1% in 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 last quarter. Vanguard Group Inc. boosted its holdings in GlycoMimetics by 94.3% in the 2nd quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock worth $9,421,000 after buying an additional 409,689 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in GlycoMimetics by 607.1% in 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 last quarter. Institutional investors own 86.61% of the company’s stock.
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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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