GlycoMimetics, Inc. (GLYC) Given Consensus Recommendation of “Hold” by Analysts
GlycoMimetics, Inc. (NASDAQ:GLYC) has received a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $14.75.
A number of research firms have issued reports on GLYC. Zacks Investment Research downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. set a $21.00 target price on GlycoMimetics and gave the stock a “buy” rating in a report on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 target price (up previously from $13.00) on shares of GlycoMimetics in a report on Friday, August 4th. Finally, Cowen and Company reiterated an “outperform” rating on shares of GlycoMimetics in a report on Sunday, May 28th.
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Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position 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. Private Capital Advisors Inc. bought a new position in shares of GlycoMimetics during the second quarter worth approximately $446,000. Sphera Funds Management LTD. boosted its position 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. Prentiss Smith & Co. Inc. boosted its position in shares of GlycoMimetics by 42.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $112,000 after buying an additional 3,000 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of GlycoMimetics during the second quarter worth approximately $17,786,000. Hedge funds and other institutional investors own 92.63% of the company’s stock.
GlycoMimetics (NASDAQ:GLYC) traded up 0.44% during midday trading on Wednesday, hitting $11.46. 205,786 shares of the stock were exchanged. The company’s 50 day moving average is $11.17 and its 200 day moving average is $8.52. The company’s market capitalization is $375.01 million. GlycoMimetics has a 1-year low of $3.82 and a 1-year high of $16.94.
GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.07. Analysts predict that GlycoMimetics will post ($1.22) earnings per share for the current fiscal year.
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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