GlycoMimetics (GLYC) Upgraded to “Strong-Buy” by ValuEngine

ValuEngine upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a buy rating to a strong-buy rating in a research note published on Monday.

Other analysts also recently issued reports about the company. BidaskClub downgraded GlycoMimetics from a hold rating to a sell rating in a research note on Saturday, July 28th. Cowen reaffirmed a buy rating on shares of GlycoMimetics in a research note on Monday, August 13th. Zacks Investment Research raised GlycoMimetics from a sell rating to a hold rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus reissued a buy rating and set a $24.00 target price on shares of GlycoMimetics in a research note on Sunday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $25.00.

GLYC opened at $13.61 on Monday. The company has a market cap of $620.03 million, a price-to-earnings ratio of -12.04 and a beta of 3.23. GlycoMimetics has a 52 week low of $10.25 and a 52 week high of $26.05.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Friday, August 10th. The biotechnology company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.08. As a group, equities research analysts predict that GlycoMimetics will post -1.24 earnings per share for the current year.

Several hedge funds have recently modified their holdings of GLYC. BlackRock Inc. raised its stake in shares of GlycoMimetics by 136.4% during the 2nd quarter. BlackRock Inc. now owns 2,803,151 shares of the biotechnology company’s stock worth $45,214,000 after buying an additional 1,617,375 shares in the last quarter. NEA Management Company LLC raised its stake in shares of GlycoMimetics by 5.9% during the 2nd quarter. NEA Management Company LLC now owns 9,089,041 shares of the biotechnology company’s stock worth $146,606,000 after buying an additional 504,913 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of GlycoMimetics by 18.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,961,194 shares of the biotechnology company’s stock worth $47,765,000 after buying an additional 456,269 shares in the last quarter. Redmile Group LLC raised its stake in shares of GlycoMimetics by 18.2% during the 1st quarter. Redmile Group LLC now owns 2,282,268 shares of the biotechnology company’s stock worth $37,041,000 after buying an additional 351,600 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of GlycoMimetics by 392.4% during the 2nd quarter. Northern Trust Corp now owns 416,092 shares of the biotechnology company’s stock worth $6,712,000 after buying an additional 331,581 shares in 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. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.

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Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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