GlycoMimetics (NASDAQ:GLYC) had its price target decreased by equities researchers at HC Wainwright from $16.00 to $15.00 in a report released on Friday, The Fly reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 280.71% from the stock’s previous close.
Separately, Zacks Investment Research lowered GlycoMimetics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $7.40.
GLYC opened at $3.94 on Friday. GlycoMimetics has a twelve month low of $1.82 and a twelve month high of $9.53. The firm has a market capitalization of $171.72 million, a PE ratio of -3.28 and a beta of 2.55. The company has a current ratio of 14.78, a quick ratio of 14.78 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $3.79 and its 200 day moving average price is $3.40.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of GlycoMimetics in the 1st quarter worth approximately $29,000. Diversified Trust Co acquired a new stake in shares of GlycoMimetics in the second quarter valued at $58,000. Jane Street Group LLC purchased a new stake in shares of GlycoMimetics in the 1st quarter valued at $37,000. AQR Capital Management LLC acquired a new position in GlycoMimetics during the 4th quarter worth about $100,000. Finally, Marquette Asset Management LLC acquired a new position in GlycoMimetics during the 1st quarter worth about $53,000. Institutional investors and hedge funds own 91.04% of the company’s stock.
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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