GlycoMimetics (GLYC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States. “
Several other research analysts have also recently commented on the company. Roth Capital started coverage on GlycoMimetics in a research report on Monday, October 23rd. They issued a buy rating and a $25.00 target price for the company. Jefferies Group reaffirmed a buy rating and issued a $16.00 target price on shares of GlycoMimetics in a research report on Thursday, October 26th. BidaskClub raised GlycoMimetics from a sell rating to a hold rating in a research report on Wednesday, December 6th. Cowen reaffirmed a buy rating on shares of GlycoMimetics in a research report on Wednesday, December 6th. Finally, SunTrust Banks raised their target price on GlycoMimetics to $32.00 and gave the stock a buy rating in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. GlycoMimetics presently has a consensus rating of Buy and a consensus target price of $22.67.
In related news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $15.01, for a total value of $30,020.00. Following the completion of the transaction, the senior vice president now directly owns 148,615 shares of the company’s stock, valued at $2,230,711.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 43.80% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in GlycoMimetics during the fourth quarter worth $103,000. Dynamic Technology Lab Private Ltd acquired a new position in GlycoMimetics during the second quarter worth $146,000. Fox Run Management L.L.C. acquired a new position in GlycoMimetics during the third quarter worth $173,000. First Mercantile Trust Co. raised its stake in GlycoMimetics by 26.6% during the fourth quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock worth $197,000 after acquiring an additional 2,466 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in GlycoMimetics during the fourth quarter worth $210,000. Hedge funds and other institutional investors own 86.80% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “GlycoMimetics (GLYC) Upgraded at Zacks Investment Research” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.thecerbatgem.com/2018/02/14/glycomimetics-glyc-upgraded-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.