Shares of GlycoMimetics Inc (NASDAQ:GLYC) have received a consensus rating of “Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.60.
A number of equities research analysts have weighed in on GLYC shares. Zacks Investment Research raised GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Monday, November 13th. Jefferies Group reissued a “buy” rating and set a $16.00 price target on shares of GlycoMimetics in a research note on Thursday, October 26th. Roth Capital assumed coverage on GlycoMimetics in a research note on Monday, October 23rd. They set a “buy” rating and a $25.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating and set a $23.00 price target on shares of GlycoMimetics in a research note on Thursday, December 14th. Finally, SunTrust Banks boosted their price target on GlycoMimetics to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th.
GlycoMimetics (GLYC) traded down $0.16 during midday trading on Tuesday, hitting $17.68. The company had a trading volume of 382,900 shares, compared to its average volume of 587,667. GlycoMimetics has a 52-week low of $3.82 and a 52-week high of $18.25. The stock has a market capitalization of $612.59, a price-to-earnings ratio of -14.26 and a beta of 3.21.
In other news, SVP Helen M. Thackray sold 2,000 shares of the company’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 completion of the sale, the senior vice president now directly owns 148,615 shares in the company, valued at approximately $2,230,711.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 43.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC purchased a new stake in GlycoMimetics during the 2nd quarter worth $16,780,000. Franklin Resources Inc. boosted its position in GlycoMimetics by 85.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,859,079 shares of the biotechnology company’s stock worth $20,747,000 after purchasing an additional 859,100 shares during the period. Redmile Group LLC purchased a new stake in GlycoMimetics during the 2nd quarter worth $6,692,000. Janus Henderson Group PLC purchased a new position in GlycoMimetics in the 2nd quarter valued at about $5,598,000. Finally, Vanguard Group Inc. boosted its position in GlycoMimetics by 94.3% in the 2nd quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock valued at $9,421,000 after buying an additional 409,689 shares during the last quarter. Institutional investors and hedge funds own 86.66% 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.
Receive News & Ratings for GlycoMimetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlycoMimetics and related companies with MarketBeat.com's FREE daily email newsletter.