GlycoMimetics, Inc. (GLYC) Stock Rating Lowered by Zacks Investment Research

GlycoMimetics, Inc. (NASDAQ:GLYC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $13.00 target price on shares of GlycoMimetics in a report on Tuesday, June 6th. Cowen and Company restated a “buy” rating on shares of GlycoMimetics in a report on Tuesday, May 9th. Canaccord Genuity restated a “buy” rating and issued a $12.00 target price on shares of GlycoMimetics in a report on Friday, May 19th. Jefferies Group LLC lowered their target price on shares of GlycoMimetics from $16.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, June 6th. Finally, ValuEngine upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. GlycoMimetics presently has a consensus rating of “Buy” and an average target price of $12.40.

Shares of GlycoMimetics (NASDAQ:GLYC) traded up 4.60% during midday trading on Thursday, reaching $11.83. 476,775 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $11.65 and its 200 day moving average price is $7.54. The stock’s market capitalization is $291.49 million. GlycoMimetics has a 1-year low of $3.82 and a 1-year high of $16.94.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Monday, May 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.03. On average, equities analysts predict that GlycoMimetics will post ($1.41) earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “GlycoMimetics, Inc. (GLYC) Stock Rating Lowered by Zacks Investment Research” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://sportsperspectives.com/2017/07/20/glycomimetics-inc-glyc-stock-rating-lowered-by-zacks-investment-research.html.

In other news, SVP Helen M. Thackray sold 2,000 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $15.57, for a total value of $31,140.00. Following the completion of the transaction, the senior vice president now owns 152,615 shares in the company, valued at approximately $2,376,215.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 43.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of GLYC. Private Capital Advisors Inc. acquired a new stake in shares of GlycoMimetics during the second quarter worth $446,000. Prentiss Smith & Co. Inc. boosted its stake in shares of GlycoMimetics by 42.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $112,000 after buying an additional 3,000 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of GlycoMimetics by 14.9% in the first quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock worth $17,467,000 after buying an additional 416,834 shares in the last quarter. Sphera Funds Management LTD. boosted its stake in shares of GlycoMimetics by 4.0% in the first quarter. Sphera Funds Management LTD. now owns 775,796 shares of the biotechnology company’s stock worth $4,213,000 after buying an additional 30,000 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of GlycoMimetics during the fourth quarter worth $172,000. Hedge funds and other institutional investors own 62.01% of the company’s stock.

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.

Get a free copy of the Zacks research report on GlycoMimetics (GLYC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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

Latest News

Leave a Reply