GlycoMimetics (GLYC) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a hold rating to a buy rating in a research report report published on Thursday morning.

GLYC has been the topic of a number of other reports. Jefferies Group restated a buy rating and set a $16.00 target price on shares of GlycoMimetics in a research report on Thursday, October 26th. Zacks Investment Research upgraded GlycoMimetics from a hold rating to a buy rating and set a $15.00 price objective on the stock in a report on Friday, October 6th. Roth Capital started coverage on GlycoMimetics in a report on Monday, October 23rd. They issued a buy rating and a $25.00 price objective on the stock. SunTrust Banks reiterated a buy rating and issued a $21.00 price objective on shares of GlycoMimetics in a report on Wednesday, October 4th. Finally, Cowen reiterated a buy rating on shares of GlycoMimetics in a report on Wednesday, December 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $21.00.

GlycoMimetics (GLYC) traded down $0.56 during trading hours on Thursday, hitting $20.25. The stock had a trading volume of 424,900 shares, compared to its average volume of 530,311. GlycoMimetics has a 52-week low of $3.82 and a 52-week high of $21.40. The firm has a market cap of $695.34, a PE ratio of -16.33 and a beta of 3.21.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.04. equities research analysts anticipate 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 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.

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in GlycoMimetics by 159.4% in the 2nd 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 last quarter. Goldman Sachs Group Inc. acquired a new stake in GlycoMimetics in the 2nd quarter worth about $965,000. Virtu KCG Holdings LLC purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $569,000. Janus Henderson Group PLC purchased a new position in GlycoMimetics in the 2nd quarter worth approximately $5,598,000. Finally, Vanguard Group Inc. lifted its stake 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 purchasing an additional 409,689 shares in the last quarter. Institutional investors own 86.66% 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.

Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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