SunTrust Banks, Inc. set a $21.00 target price on GlycoMimetics, Inc. (NASDAQ:GLYC) in a report published on Monday morning. The brokerage currently has a buy rating on the biotechnology company’s stock. SunTrust Banks also issued estimates for GlycoMimetics’ Q3 2017 earnings at ($0.25) EPS, Q4 2017 earnings at ($0.26) EPS, FY2017 earnings at ($1.12) EPS, FY2018 earnings at ($1.23) EPS, FY2019 earnings at ($1.23) EPS and FY2021 earnings at ($0.05) EPS.
Several other equities analysts also recently weighed in on GLYC. Zacks Investment Research raised GlycoMimetics from a hold rating to a buy rating and set a $4.75 price objective for the company in a research note on Tuesday, May 2nd. Cowen and Company reaffirmed a buy rating on shares of GlycoMimetics in a research note on Tuesday, May 9th. Canaccord Genuity reaffirmed a buy rating and issued a $12.00 price objective on shares of GlycoMimetics in a research note on Friday, May 19th. ValuEngine raised GlycoMimetics from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC dropped their price objective on GlycoMimetics from $16.00 to $9.00 and set a buy rating for the company in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $14.20.
Shares of GlycoMimetics (NASDAQ:GLYC) opened at 11.74 on Monday. GlycoMimetics has a 52 week low of $3.82 and a 52 week high of $16.94. The stock has a 50 day moving average price of $11.52 and a 200-day moving average price of $8.12. The firm’s market capitalization is $289.27 million.
GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.07. On average, analysts anticipate that GlycoMimetics will post ($1.22) EPS for the current year.
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In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $15.57, for a total transaction of $31,140.00. Following the sale, 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 legal filing with the SEC, which is available through this link. 43.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. 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 during the period. Jennison Associates LLC bought a new stake in shares of GlycoMimetics during the second quarter worth approximately $17,786,000. 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 during the period. Columbus Circle Investors bought a new stake in shares of GlycoMimetics during the second quarter worth approximately $1,516,000. Finally, Bank of New York Mellon Corp boosted 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 buying an additional 57,091 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.
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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