GlycoMimetics (GLYC) Raised to Buy at BidaskClub

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BidaskClub upgraded shares of GlycoMimetics (NASDAQ:GLYC) from a hold rating to a buy rating in a research report report published on Wednesday.

Several other research firms have also recently issued reports on GLYC. Zacks Investment Research cut GlycoMimetics from a hold rating to a sell rating in a research note on Thursday, February 28th. ValuEngine cut GlycoMimetics from a strong-buy rating to a buy rating in a research note on Tuesday, November 27th. Finally, HC Wainwright assumed coverage on GlycoMimetics in a research note on Tuesday, December 18th. They issued a buy rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. GlycoMimetics presently has a consensus rating of Buy and a consensus price target of $23.75.

NASDAQ GLYC opened at $12.97 on Wednesday. The stock has a market capitalization of $565.51 million, a P/E ratio of -10.99 and a beta of 2.76. GlycoMimetics has a 1 year low of $8.29 and a 1 year high of $19.20.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Wednesday, March 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.02). On average, analysts predict that GlycoMimetics will post -1.19 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Prentiss Smith & Co. Inc. boosted its position in GlycoMimetics by 42.9% during the 4th quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 3,000 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in GlycoMimetics by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,748 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 9,175 shares in the last quarter. Jane Street Group LLC bought a new stake in GlycoMimetics during the 4th quarter valued at approximately $114,000. WINTON GROUP Ltd bought a new stake in GlycoMimetics during the 3rd quarter valued at approximately $186,000. Finally, Two Sigma Investments LP bought a new stake in GlycoMimetics during the 4th quarter valued at approximately $152,000.

About GlycoMimetics

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. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.

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