GlycoMimetics (NASDAQ:GLYC) PT Lowered to $18.00 at HC Wainwright

GlycoMimetics (NASDAQ:GLYC) had its target price decreased by research analysts at HC Wainwright from $23.00 to $18.00 in a note issued to investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

A number of other analysts have also issued reports on GLYC. Piper Jaffray Companies lowered shares of GlycoMimetics from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $6.00 in a research note on Sunday. BidaskClub lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Thursday, July 4th. Cowen reiterated a “buy” rating on shares of GlycoMimetics in a research note on Friday, May 3rd. Finally, SunTrust Banks lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $23.00 to $5.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. GlycoMimetics presently has a consensus rating of “Hold” and a consensus target price of $16.83.

Shares of GLYC traded down $6.33 during mid-day trading on Monday, reaching $2.80. 20,612,600 shares of the stock traded hands, compared to its average volume of 422,945. The stock has a market cap of $394.24 million, a price-to-earnings ratio of -2.37 and a beta of 2.45. The firm has a fifty day moving average of $10.91. GlycoMimetics has a 12-month low of $2.64 and a 12-month high of $17.07. The company has a current ratio of 23.88, a quick ratio of 23.88 and a debt-to-equity ratio of 0.02.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). As a group, research analysts predict that GlycoMimetics will post -1.17 earnings per share for the current year.

Several large investors have recently modified their holdings of GLYC. Aperio Group LLC bought a new stake in shares of GlycoMimetics in the second quarter worth $49,000. BNP Paribas Arbitrage SA bought a new stake in shares of GlycoMimetics in the first quarter worth $88,000. Metropolitan Life Insurance Co. NY increased its stake in shares of GlycoMimetics by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,748 shares of the biotechnology company’s stock worth $111,000 after buying an additional 9,175 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of GlycoMimetics in the fourth quarter worth $114,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of GlycoMimetics in the second quarter worth $123,000.

About GlycoMimetics

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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