Piper Jaffray Companies lowered shares of GlycoMimetics (NASDAQ:GLYC) from an overweight rating to a neutral rating in a report released on Sunday, BenzingaRatingsTable reports. The brokerage currently has $6.00 price target on the biotechnology company’s stock, down from their prior price target of $20.00. Piper Jaffray Companies also issued estimates for GlycoMimetics’ Q3 2019 earnings at ($0.42) EPS, Q4 2019 earnings at ($0.46) EPS, FY2019 earnings at ($1.57) EPS, Q1 2020 earnings at $0.25 EPS, Q2 2020 earnings at $0.04 EPS, Q3 2020 earnings at ($0.43) EPS, Q4 2020 earnings at ($0.38) EPS, FY2020 earnings at ($0.51) EPS, FY2021 earnings at ($0.91) EPS and FY2022 earnings at ($0.31) EPS.
A number of other equities analysts have also recently weighed in on the stock. HC Wainwright reissued a buy rating and issued a $23.00 price objective on shares of GlycoMimetics in a research report on Friday, April 12th. 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 research report on Thursday, July 4th. Cowen reissued a buy rating on shares of GlycoMimetics in a research report on Friday, May 3rd. Finally, BidaskClub cut shares of GlycoMimetics from a hold rating to a sell rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $17.67.
NASDAQ:GLYC traded down $6.33 on Friday, reaching $2.80. The stock had a trading volume of 20,318,922 shares, compared to its average volume of 700,790. The company has a current ratio of 23.88, a quick ratio of 23.88 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average price is $11.16. The company has a market cap of $394.24 million, a PE ratio of -2.37 and a beta of 2.45. GlycoMimetics has a 12-month low of $8.29 and a 12-month high of $17.07.
Several institutional investors have recently modified their holdings of GLYC. OppenheimerFunds Inc. raised its stake in GlycoMimetics by 0.3% during the first quarter. OppenheimerFunds Inc. now owns 4,760,080 shares of the biotechnology company’s stock worth $59,311,000 after acquiring an additional 16,406 shares during the period. FMR LLC raised its stake in GlycoMimetics by 10.3% during the first quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock worth $48,553,000 after acquiring an additional 365,096 shares during the period. Redmile Group LLC raised its stake in GlycoMimetics by 2.0% during the first quarter. Redmile Group LLC now owns 2,018,247 shares of the biotechnology company’s stock worth $25,147,000 after acquiring an additional 39,700 shares during the period. Dimensional Fund Advisors LP raised its stake in GlycoMimetics by 58.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,420 shares of the biotechnology company’s stock worth $5,847,000 after acquiring an additional 228,664 shares during the period. Finally, Geode Capital Management LLC raised its stake in GlycoMimetics by 16.2% during the fourth quarter. Geode Capital Management LLC now owns 412,003 shares of the biotechnology company’s stock worth $3,901,000 after acquiring an additional 57,392 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.
Recommended Story: What is a price target?
Receive News & Ratings for GlycoMimetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlycoMimetics and related companies with MarketBeat.com's FREE daily email newsletter.