Brokerages Set GlycoMimetics Inc (GLYC) Target Price at $13.50

GlycoMimetics Inc (NASDAQ:GLYC) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.50.

Several analysts have recently weighed in on GLYC shares. Canaccord Genuity set a $12.00 price objective on shares of GlycoMimetics and gave the company a “buy” rating in a research note on Wednesday, March 1st. Zacks Investment Research lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Friday, March 3rd.

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Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of GlycoMimetics by 2.6% in the fourth quarter. State Street Corp now owns 134,298 shares of the biotechnology company’s stock worth $819,000 after buying an additional 3,347 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of GlycoMimetics during the fourth quarter worth approximately $172,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of GlycoMimetics during the third quarter worth approximately $2,726,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

Shares of GlycoMimetics (NASDAQ:GLYC) traded down 3.63% during midday trading on Friday, hitting $4.51. 36,848 shares of the company’s stock traded hands. The company has a 50 day moving average price of $5.54 and a 200 day moving average price of $6.04. GlycoMimetics has a 1-year low of $4.07 and a 1-year high of $9.25. The firm’s market capitalization is $105.21 million.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Wednesday, March 1st. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by $0.01. Equities analysts anticipate that GlycoMimetics will post ($1.19) earnings per share for the current year.

GlycoMimetics Company Profile

GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.

5 Day Chart for NASDAQ:GLYC

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