BidaskClub Upgrades GlycoMimetics (GLYC) to “Hold”

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GlycoMimetics (NASDAQ:GLYC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

GLYC has been the topic of several other research reports. Zacks Investment Research downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. ValuEngine cut GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Cowen reiterated a “buy” rating on shares of GlycoMimetics in a research report on Monday, August 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $24.00 price target on shares of GlycoMimetics in a research report on Sunday, August 12th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $25.00.

Shares of GlycoMimetics stock opened at $15.82 on Wednesday. The firm has a market cap of $624.76 million, a price-to-earnings ratio of -14.00 and a beta of 3.28. GlycoMimetics has a 1-year low of $10.06 and a 1-year high of $26.05.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Friday, August 10th. The biotechnology company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.08. equities research analysts expect that GlycoMimetics will post -1.24 earnings per share for the current fiscal year.

In other news, CFO Brian M. Hahn sold 19,345 shares of GlycoMimetics stock in a transaction on Monday, June 11th. The stock was sold at an average price of $18.04, for a total transaction of $348,983.80. Following the transaction, the chief financial officer now directly owns 19,345 shares in the company, valued at approximately $348,983.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 26.10% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of GlycoMimetics by 21.0% during the 1st quarter. Alps Advisors Inc. now owns 46,054 shares of the biotechnology company’s stock valued at $747,000 after purchasing an additional 8,004 shares during the period. California Public Employees Retirement System acquired a new position in shares of GlycoMimetics during the 1st quarter valued at $166,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of GlycoMimetics during the 2nd quarter valued at $189,000. Voya Investment Management LLC acquired a new position in shares of GlycoMimetics during the 2nd quarter valued at $205,000. Finally, TD Asset Management Inc. increased its position in shares of GlycoMimetics by 22.5% during the 2nd quarter. TD Asset Management Inc. now owns 69,172 shares of the biotechnology company’s stock valued at $1,116,000 after purchasing an additional 12,700 shares during the period.

GlycoMimetics Company Profile

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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Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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