Jefferies Group LLC Reiterates Buy Rating for GlycoMimetics, Inc. (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research report issued on Thursday, October 26th. They presently have a $16.00 price objective on the biotechnology company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 30.19% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. SunTrust Banks, Inc. set a $21.00 price target on shares of GlycoMimetics and gave the company a “buy” rating in a research note on Monday, August 7th. Roth Capital began coverage on shares of GlycoMimetics in a research note on Monday, October 23rd. They issued a “buy” rating and a $25.00 price target for the company. BidaskClub raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $17.00 target price (up from $13.00) on shares of GlycoMimetics in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. GlycoMimetics currently has a consensus rating of “Buy” and a consensus target price of $17.33.

GlycoMimetics (GLYC) opened at $12.29 on Thursday. GlycoMimetics has a fifty-two week low of $3.82 and a fifty-two week high of $16.94.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. analysts forecast that GlycoMimetics will post -1.15 earnings per share for the current fiscal year.

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In other news, SVP Helen M. Thackray sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.00, for a total value of $26,000.00. Following the sale, the senior vice president now owns 150,615 shares of the company’s stock, valued at $1,957,995. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 43.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of GlycoMimetics by 14.9% in the 1st quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock valued at $17,467,000 after purchasing an additional 416,834 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of GlycoMimetics by 85.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,859,079 shares of the biotechnology company’s stock valued at $20,747,000 after purchasing an additional 859,100 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of GlycoMimetics in the 2nd quarter valued at $17,786,000. FMR LLC purchased a new stake in shares of GlycoMimetics in the 2nd quarter valued at $16,780,000. Finally, Vanguard Group Inc. boosted its stake in shares of GlycoMimetics by 94.3% in the 2nd quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock valued at $9,421,000 after purchasing an additional 409,689 shares in the last quarter. 92.47% of the stock is currently owned by hedge funds and other institutional investors.

About GlycoMimetics

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.

Analyst Recommendations for GlycoMimetics (NASDAQ:GLYC)

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