HC Wainwright reissued their buy rating on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Friday, April 12th, AnalystRatings.com reports. HC Wainwright currently has a $23.00 target price on the biotechnology company’s stock.
“We base our $23 price target on probability-adjusted forecasts for uproleselan in AML as well as rivipansel in SCD VOC. We use the net present value of our revenue forecast through 2027, apply a 60% POS for AML and a 70% POS for SCD 4x price/sales multiple for AML, and estimated 2019 year-end net cash of $3.11 per share, to arrive at our price target. Our P/S multiple of 4x is inline with GlycoMimetics’ peers that range between 2-5x.”,” the firm’s analyst wrote.
Several other equities analysts have also recently issued reports on GLYC. ValuEngine cut GlycoMimetics from a strong-buy rating to a buy rating in a research note on Wednesday, January 2nd. BidaskClub raised GlycoMimetics from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research raised GlycoMimetics from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Tuesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. GlycoMimetics presently has an average rating of Buy and an average target price of $22.80.
GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.01. On average, analysts expect that GlycoMimetics will post -1.23 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Virtus ETF Advisers LLC lifted its holdings in shares of GlycoMimetics by 3.7% during the fourth 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in GlycoMimetics by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 144,163 shares of the biotechnology company’s stock valued at $1,365,000 after acquiring an additional 2,718 shares during the period. Prentiss Smith & Co. Inc. lifted its holdings in GlycoMimetics by 42.9% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 3,000 shares during the period. TD Asset Management Inc. lifted its holdings in GlycoMimetics by 4.7% in the fourth quarter. TD Asset Management Inc. now owns 76,110 shares of the biotechnology company’s stock valued at $721,000 after acquiring an additional 3,438 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in GlycoMimetics by 4.5% in the first quarter. Alps Advisors Inc. now owns 104,192 shares of the biotechnology company’s stock valued at $1,298,000 after acquiring an additional 4,507 shares during the period.
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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