Shares of GlycoMimetics Inc (NASDAQ:GLYC) have been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $28.00.
Several research firms recently weighed in on GLYC. Zacks Investment Research lowered shares of GlycoMimetics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. BidaskClub upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. Stifel Nicolaus reiterated a “buy” rating and set a $24.00 price objective on shares of GlycoMimetics in a research note on Sunday, August 12th. Roth Capital set a $35.00 price objective on shares of GlycoMimetics and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, ValuEngine lowered shares of GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 17th.
In related news, SVP John L. Magnani sold 25,000 shares of the stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $14.01, for a total transaction of $350,250.00. Following the sale, the senior vice president now owns 86,593 shares in the company, valued at $1,213,167.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John L. Magnani sold 14,200 shares of the stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $14.01, for a total transaction of $198,942.00. Following the sale, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The disclosure for this sale can be found here. 43.80% of the stock is owned by corporate insiders.
Shares of GlycoMimetics stock traded up $0.07 during trading on Friday, reaching $12.00. The company had a trading volume of 142,445 shares, compared to its average volume of 534,444. The firm has a market cap of $514.63 million, a PE ratio of -10.62 and a beta of 3.08. GlycoMimetics has a fifty-two week low of $10.93 and a fifty-two week high of $26.05.
GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Friday, November 2nd. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. Equities analysts expect that GlycoMimetics will post -1.16 EPS for the current year.
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. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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