GlycoMimetics (GLYC) Research Coverage Started at Piper Jaffray Companies

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Piper Jaffray Companies assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report released on Friday morning, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued an overweight rating and a $20.00 target price on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut GlycoMimetics from a hold rating to a sell rating in a research report on Thursday, March 7th. BidaskClub raised GlycoMimetics from a hold rating to a buy rating in a research report on Wednesday, February 27th. ValuEngine cut GlycoMimetics from a strong-buy rating to a buy rating in a research report on Wednesday, January 2nd. Finally, HC Wainwright began coverage on GlycoMimetics in a research report on Tuesday, December 18th. They issued a buy rating and a $24.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $22.80.

GLYC opened at $12.04 on Friday. The firm has a market cap of $515.45 million, a P/E ratio of -10.20 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 released its quarterly earnings data on Wednesday, March 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Equities analysts forecast that GlycoMimetics will post -1.19 EPS for the current year.

Several large investors have recently made changes to their positions in the business. FMR LLC lifted its position in shares of GlycoMimetics by 1.1% in the third quarter. FMR LLC now owns 3,801,483 shares of the biotechnology company’s stock worth $54,741,000 after buying an additional 40,887 shares during the last quarter. BlackRock Inc. increased its stake in shares of GlycoMimetics by 1.8% in the third quarter. BlackRock Inc. now owns 2,853,504 shares of the biotechnology company’s stock worth $41,090,000 after purchasing an additional 50,353 shares during the period. Vanguard Group Inc increased its stake in shares of GlycoMimetics by 1.6% in the third quarter. Vanguard Group Inc now owns 1,691,550 shares of the biotechnology company’s stock worth $24,358,000 after purchasing an additional 26,951 shares during the period. Vanguard Group Inc. increased its stake in shares of GlycoMimetics by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,691,550 shares of the biotechnology company’s stock worth $24,358,000 after purchasing an additional 26,951 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of GlycoMimetics by 58.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,420 shares of the biotechnology company’s stock worth $5,847,000 after purchasing an additional 228,664 shares during the period.

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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