GlycoMimetics, Inc. (GLYC) Given Average Rating of “Buy” by Brokerages

Shares of GlycoMimetics, Inc. (NASDAQ:GLYC) have earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $11.33.

A number of research firms have recently issued reports on GLYC. Cowen and Company reissued an “outperform” rating on shares of GlycoMimetics in a research report on Sunday, May 28th. Zacks Investment Research downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Friday, March 3rd. ValuEngine raised GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity set a $12.00 price target on GlycoMimetics and gave the stock a “buy” rating in a research report on Wednesday, March 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $13.00 price target on shares of GlycoMimetics in a research report on Tuesday, June 6th.

In related news, SVP Helen M. Thackray sold 2,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $15.57, for a total transaction of $31,140.00. Following the completion of the sale, the senior vice president now directly owns 152,615 shares in the company, valued at approximately $2,376,215.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 43.80% of the company’s stock.

Several large investors have recently modified their holdings of GLYC. Wellington Management Group LLP boosted its stake in shares of GlycoMimetics by 14.9% in the first quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock worth $17,467,000 after buying an additional 416,834 shares during the period. Sphera Funds Management LTD. boosted its stake in shares of GlycoMimetics by 4.0% in the first quarter. Sphera Funds Management LTD. now owns 775,796 shares of the biotechnology company’s stock worth $4,213,000 after buying an additional 30,000 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of GlycoMimetics during the fourth quarter worth $172,000. Vanguard Group Inc. boosted its stake in shares of GlycoMimetics by 2.4% in the first quarter. Vanguard Group Inc. now owns 434,501 shares of the biotechnology company’s stock worth $2,359,000 after buying an additional 10,057 shares during the period. Finally, State Street Corp boosted its stake in shares of GlycoMimetics by 2.6% in the fourth quarter. State Street Corp now owns 134,298 shares of the biotechnology company’s stock worth $819,000 after buying an additional 3,347 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.

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Shares of GlycoMimetics (NASDAQ GLYC) traded up 7.07% during mid-day trading on Friday, reaching $12.12. The company had a trading volume of 1,264,181 shares. GlycoMimetics has a 1-year low of $3.82 and a 1-year high of $16.94. The firm has a 50-day moving average price of $8.89 and a 200-day moving average price of $6.63. The stock’s market capitalization is $298.64 million.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Monday, May 8th. The biotechnology company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. Equities analysts expect that GlycoMimetics will post ($1.41) earnings per share for the current year.

About GlycoMimetics

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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