GlycoMimetics, Inc. (GLYC) Given “Buy” Rating at SunTrust Banks, Inc.
GlycoMimetics, Inc. (NASDAQ:GLYC)‘s stock had its “buy” rating reissued by SunTrust Banks, Inc. in a research report issued to clients and investors on Wednesday. They currently have a $21.00 target price on the biotechnology company’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 54.87% from the company’s current price.
A number of other research analysts have also recently commented on the company. ValuEngine raised GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered GlycoMimetics from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Stifel Nicolaus reissued a “buy” rating and issued a $17.00 price objective (up previously from $13.00) on shares of GlycoMimetics in a report on Friday, August 4th. Finally, Jefferies Group LLC decreased their price objective on GlycoMimetics from $16.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.20.
GlycoMimetics (NASDAQ GLYC) traded down 1.77% on Wednesday, reaching $13.32. The company’s stock had a trading volume of 183,859 shares. The firm has a 50 day moving average of $12.19 and a 200 day moving average of $9.74. The firm’s market cap is $435.87 million. GlycoMimetics has a 12 month low of $3.82 and a 12 month high of $16.94.
GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.07. Analysts anticipate that GlycoMimetics will post ($1.22) earnings per share for the current 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 sale, the senior vice president now 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 43.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of GLYC. Jennison Associates LLC purchased a new position in shares of GlycoMimetics in the second 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. raised its stake 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 purchasing an additional 859,100 shares during the period. 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. 92.63% of the stock is owned by hedge funds and other institutional investors.
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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