Zacks Investment Research lowered shares of GlycoMimetics (NASDAQ:GLYC) from a hold rating to a sell rating in a research note released on Thursday.
According to Zacks, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States. “
Several other analysts have also issued reports on GLYC. BidaskClub lowered shares of GlycoMimetics from a buy rating to a hold rating in a research report on Thursday. Stifel Nicolaus increased their price target on shares of GlycoMimetics from $23.00 to $25.00 and gave the stock a buy rating in a research report on Wednesday, March 7th. Roth Capital set a $35.00 price target on shares of GlycoMimetics and gave the stock a buy rating in a research report on Thursday, February 8th. Jefferies Group reiterated a buy rating and set a $21.00 price target on shares of GlycoMimetics in a research report on Wednesday, December 20th. Finally, SunTrust Banks increased their price target on shares of GlycoMimetics to $32.00 and gave the stock a buy rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $23.00.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.01). equities research analysts expect that GlycoMimetics will post -1.01 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. USA Financial Portformulas Corp acquired a new stake in GlycoMimetics in the fourth quarter valued at approximately $573,000. Citadel Advisors LLC boosted its position in GlycoMimetics by 607.1% in the fourth quarter. Citadel Advisors LLC now owns 413,119 shares of the biotechnology company’s stock valued at $6,937,000 after buying an additional 354,697 shares in the last quarter. Vanguard Group Inc. boosted its position in GlycoMimetics by 94.3% in the second 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 in the last quarter. Columbus Circle Investors boosted its position in GlycoMimetics by 48.7% in the third quarter. Columbus Circle Investors now owns 201,980 shares of the biotechnology company’s stock valued at $2,826,000 after buying an additional 66,177 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in GlycoMimetics in the fourth quarter valued at approximately $639,000. Hedge funds and other institutional investors own 92.90% 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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