GlycoMimetics (NASDAQ:GLYC) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.
A number of other equities analysts have also commented on GLYC. ValuEngine raised shares of GlycoMimetics from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 8th. Zacks Investment Research raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $24.00 price target on shares of GlycoMimetics in a research report on Sunday, August 12th. Finally, Cowen reaffirmed a “buy” rating on shares of GlycoMimetics in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. GlycoMimetics presently has an average rating of “Buy” and an average price target of $25.00.
NASDAQ:GLYC opened at $13.69 on Friday. GlycoMimetics has a 52 week low of $10.25 and a 52 week high of $26.05. The stock has a market cap of $620.03 million, a P/E ratio of -12.12 and a beta of 3.23.
GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Friday, August 10th. The biotechnology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. On average, analysts anticipate that GlycoMimetics will post -1.24 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in GlycoMimetics by 19.5% during the first quarter. BlackRock Inc. now owns 1,185,776 shares of the biotechnology company’s stock worth $19,245,000 after buying an additional 193,828 shares in the last quarter. OppenheimerFunds Inc. grew its stake in GlycoMimetics by 18.2% during the second 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. Northern Trust Corp grew its stake in GlycoMimetics by 21.3% during the first quarter. Northern Trust Corp now owns 84,511 shares of the biotechnology company’s stock worth $1,372,000 after buying an additional 14,868 shares in the last quarter. Jennison Associates LLC grew its stake in GlycoMimetics by 1.7% during the second quarter. Jennison Associates LLC now owns 1,593,857 shares of the biotechnology company’s stock worth $25,709,000 after buying an additional 26,236 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in GlycoMimetics during the second quarter worth about $510,000.
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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