GlycoMimetics (GLYC) Upgraded to “Buy” at BidaskClub
BidaskClub upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a hold rating to a buy rating in a research note released on Thursday.
Several other equities analysts have also recently commented on GLYC. SunTrust Banks reiterated a buy rating and set a $21.00 target price on shares of GlycoMimetics in a research note on Wednesday, October 4th. Zacks Investment Research upgraded GlycoMimetics from a hold rating to a buy rating and set a $15.00 target price for the company in a research note on Friday, October 6th. Roth Capital started coverage on GlycoMimetics in a research note on Monday, October 23rd. They set a buy rating and a $25.00 target price for the company. Jefferies Group reiterated a buy rating and set a $16.00 target price on shares of GlycoMimetics in a research note on Thursday, October 26th. Finally, Cowen reiterated a buy rating on shares of GlycoMimetics in a research note on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $21.00.
GlycoMimetics (NASDAQ:GLYC) traded down $0.56 during midday trading on Thursday, reaching $20.25. The company’s stock had a trading volume of 424,900 shares, compared to its average volume of 530,311. The stock has a market cap of $695.34, a PE ratio of -16.33 and a beta of 3.21. GlycoMimetics has a 52-week low of $3.82 and a 52-week high of $21.40.
GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. equities analysts predict that GlycoMimetics will post -1.12 EPS for the current fiscal year.
In related news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the transaction, the senior vice president now directly owns 148,615 shares in the company, valued at $2,230,711.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 43.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in GlycoMimetics during the second quarter worth $146,000. Fox Run Management L.L.C. bought a new position in GlycoMimetics during the third quarter worth $173,000. Citadel Advisors LLC bought a new position in GlycoMimetics during the second quarter worth $249,000. Russell Investments Group Ltd. lifted its stake in 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 last quarter. Finally, Virtu KCG Holdings LLC bought a new position in GlycoMimetics during the second quarter worth $569,000. Hedge funds and other 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.
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