GlycoMimetics Inc (NASDAQ:GLYC) has received an average rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.67.
Several research firms recently weighed in on GLYC. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, July 4th. BidaskClub downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of GlycoMimetics in a report on Friday, April 12th. Jefferies Financial Group downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a report on Monday. Finally, Piper Jaffray Companies downgraded shares of GlycoMimetics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $6.00 in a report on Sunday.
GLYC stock opened at $3.88 on Wednesday. The firm has a market capitalization of $394.24 million, a P/E ratio of -3.29 and a beta of 2.45. The business has a 50-day moving average of $11.16. GlycoMimetics has a fifty-two week low of $8.29 and a fifty-two week high of $17.07. The company has a quick ratio of 23.88, a current ratio of 23.88 and a debt-to-equity ratio of 0.02.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. OppenheimerFunds Inc. lifted its holdings in GlycoMimetics by 0.3% in the 1st quarter. OppenheimerFunds Inc. now owns 4,760,080 shares of the biotechnology company’s stock valued at $59,311,000 after acquiring an additional 16,406 shares during the last quarter. FMR LLC raised its holdings in GlycoMimetics by 10.3% during the 1st quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock worth $48,553,000 after buying an additional 365,096 shares during the period. Redmile Group LLC raised its holdings in GlycoMimetics by 2.0% during the 1st quarter. Redmile Group LLC now owns 2,018,247 shares of the biotechnology company’s stock worth $25,147,000 after buying an additional 39,700 shares during the period. Dimensional Fund Advisors LP raised its holdings in GlycoMimetics by 58.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 617,420 shares of the biotechnology company’s stock worth $5,847,000 after buying an additional 228,664 shares during the period. Finally, Geode Capital Management LLC raised its holdings in GlycoMimetics by 16.2% during the 4th quarter. Geode Capital Management LLC now owns 412,003 shares of the biotechnology company’s stock worth $3,901,000 after buying an additional 57,392 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. 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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