HC Wainwright restated their buy rating on shares of GlycoMimetics (NASDAQ:GLYC) in a research report sent to investors on Friday, AnalystRatings.com reports. The brokerage currently has a $23.00 price target on the biotechnology company’s stock.

“We base our $23 price target on probability-adjusted forecasts for uproleselan in AML as well as rivipansel in SCD VOC. We use the net present value of our revenue forecast through 2027, apply a 60% POS for AML and a 70% POS for SCD 4x price/sales multiple for AML, and estimated 2019 year-end net cash of $3.11 per share, to arrive at our price target. Our P/S multiple of 4x is inline with GlycoMimetics’ peers that range between 2-5x.”,” HC Wainwright’s analyst commented.

Several other research firms have also issued reports on GLYC. BidaskClub lowered shares of GlycoMimetics from a buy rating to a hold rating in a report on Wednesday, April 3rd. Zacks Investment Research lowered shares of GlycoMimetics from a hold rating to a sell rating in a report on Thursday, February 28th. Finally, ValuEngine lowered shares of GlycoMimetics from a buy rating to a hold rating in a report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $22.80.

GlycoMimetics stock opened at $12.04 on Friday. The company has a market capitalization of $515.45 million, a P/E ratio of -10.20 and a beta of 2.76. GlycoMimetics has a 12-month low of $8.29 and a 12-month high of $19.20.

GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Wednesday, March 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.02). As a group, analysts predict that GlycoMimetics will post -1.19 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Man Group plc grew its holdings in GlycoMimetics by 627.1% during the 3rd quarter. Man Group plc now owns 411,995 shares of the biotechnology company’s stock valued at $5,933,000 after buying an additional 355,329 shares in the last quarter. Vanguard Group Inc boosted its position in shares of GlycoMimetics by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 1,691,550 shares of the biotechnology company’s stock valued at $24,358,000 after acquiring an additional 26,951 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in shares of GlycoMimetics by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 25,810 shares of the biotechnology company’s stock valued at $372,000 after acquiring an additional 9,175 shares during the last quarter. Virtus ETF Advisers LLC boosted its position in shares of GlycoMimetics by 3.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 29,862 shares of the biotechnology company’s stock valued at $283,000 after acquiring an additional 1,057 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of GlycoMimetics by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,691,550 shares of the biotechnology company’s stock valued at $24,358,000 after acquiring an additional 26,951 shares during the last quarter.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.

Featured Article: Diversification For Individual Investors

Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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.