GlycoMimetics (GLYC) Hits New 12-Month High Following Analyst Upgrade
GlycoMimetics, Inc. (NASDAQ:GLYC) shares reached a new 52-week high during trading on Tuesday after SunTrust Banks raised their price target on the stock to $32.00. SunTrust Banks currently has a buy rating on the stock. GlycoMimetics traded as high as $17.78 and last traded at $14.32, with a volume of 633900 shares traded. The stock had previously closed at $14.97.
GLYC has been the topic of several other reports. Jefferies Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of GlycoMimetics in a report on Thursday, October 26th. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, November 13th. Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a report on Wednesday, December 6th. Roth Capital began coverage on shares of GlycoMimetics in a report on Monday, October 23rd. They issued a “buy” rating and a $25.00 price target on the stock. Finally, BidaskClub cut shares of GlycoMimetics from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.17.
In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the sale, the senior vice president now directly owns 150,615 shares of the company’s stock, valued at $1,957,995. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 43.80% of the company’s stock.
Several large investors have recently modified their holdings of GLYC. Dynamic Technology Lab Private Ltd acquired a new stake in shares of GlycoMimetics during the second quarter worth $146,000. Fox Run Management L.L.C. acquired a new stake in shares of GlycoMimetics during the third quarter worth $173,000. Citadel Advisors LLC acquired a new stake in shares of GlycoMimetics during the second quarter worth $249,000. Russell Investments Group Ltd. raised its holdings in shares of GlycoMimetics by 172.4% during the second quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after purchasing an additional 19,859 shares during the period. Finally, TD Asset Management Inc. acquired a new stake in shares of GlycoMimetics during the second quarter worth $362,000. 86.81% of the stock is currently owned by institutional investors.
GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.04. research analysts forecast that GlycoMimetics, Inc. will post -1.12 EPS for the current fiscal year.
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.
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