GlycoMimetics, Inc. (NASDAQ:GLYC) has been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $14.75.
A number of research analysts have issued reports on GLYC shares. Zacks Investment Research downgraded shares of GlycoMimetics from a “strong-buy” rating to a “hold” rating in a research report on Monday. SunTrust Banks, Inc. reissued a “buy” rating and set a $21.00 price objective on shares of GlycoMimetics in a research report on Wednesday, October 4th. ValuEngine raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $17.00 price objective (up from $13.00) on shares of GlycoMimetics in a research report on Friday, August 4th.
Shares of GlycoMimetics (NASDAQ GLYC) traded down 2.51% on Thursday, reaching $10.87. 410,590 shares of the company traded hands. The stock’s market capitalization is $355.70 million. The stock’s 50 day moving average price is $12.66 and its 200-day moving average price is $10.23. GlycoMimetics has a one year low of $3.82 and a one year high of $16.94.
GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.07. Equities analysts forecast that GlycoMimetics will post ($1.22) earnings per share for the current fiscal year.
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In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the business’s 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 transaction, the senior vice president now directly owns 150,615 shares of the company’s stock, valued at approximately $1,957,995. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 43.80% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in GLYC. Jennison Associates LLC bought a new stake in shares of GlycoMimetics during the 2nd quarter valued at $17,786,000. FMR LLC bought a new stake in shares of GlycoMimetics during the 2nd quarter valued at $16,780,000. Franklin Resources Inc. boosted its holdings in shares of GlycoMimetics by 85.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,859,079 shares of the biotechnology company’s stock valued at $20,747,000 after buying an additional 859,100 shares in the last quarter. Redmile Group LLC bought a new stake in shares of GlycoMimetics during the 2nd quarter valued at $6,692,000. Finally, Janus Henderson Group PLC bought a new stake in shares of GlycoMimetics during the 2nd quarter valued at $5,598,000. Hedge funds and other institutional investors own 92.63% of the company’s stock.
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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