GlycoMimetics (NASDAQ:GLYC) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of GlycoMimetics (NASDAQ:GLYC) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

Several other analysts also recently weighed in on GLYC. Zacks Investment Research raised GlycoMimetics from a hold rating to a buy rating and set a $14.00 target price for the company in a report on Wednesday, May 8th. HC Wainwright reaffirmed a buy rating and set a $23.00 price objective on shares of GlycoMimetics in a research note on Friday, April 12th. Piper Jaffray Companies began coverage on GlycoMimetics in a research note on Friday, April 12th. They set an overweight rating and a $20.00 price objective for the company. Finally, Cowen reaffirmed a buy rating on shares of GlycoMimetics in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $23.00.

GlycoMimetics stock opened at $10.73 on Tuesday. GlycoMimetics has a fifty-two week low of $8.29 and a fifty-two week high of $18.20. The company has a quick ratio of 23.88, a current ratio of 23.88 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $504.79 million, a PE ratio of -9.09 and a beta of 2.64.



GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.01. On average, equities research analysts expect that GlycoMimetics will post -1.18 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. bought a new stake in shares of GlycoMimetics in the 1st quarter valued at $915,000. Virtus ETF Advisers LLC boosted its stake in shares of GlycoMimetics by 3.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 29,862 shares of the biotechnology company’s stock valued at $283,000 after purchasing an additional 1,057 shares during the last quarter. Millennium Management LLC bought a new stake in shares of GlycoMimetics in the 4th quarter valued at $222,000. Vanguard Group Inc. boosted its stake in shares of GlycoMimetics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,691,550 shares of the biotechnology company’s stock valued at $24,358,000 after purchasing an additional 26,951 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of GlycoMimetics in the 4th quarter valued at $152,000.

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. 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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Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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