GlycoMimetics (NASDAQ:GLYC) had its price objective upped by Stifel Nicolaus from $23.00 to $25.00 in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other analysts have also recently issued reports about the company. Jefferies Group reissued a buy rating and set a $21.00 target price on shares of GlycoMimetics in a research note on Wednesday, December 20th. SunTrust Banks raised their price target on shares of GlycoMimetics to $32.00 and gave the stock a buy rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of GlycoMimetics from a sell rating to a hold rating in a research note on Tuesday, February 13th. Cowen reaffirmed a buy rating on shares of GlycoMimetics in a research note on Wednesday, December 6th. Finally, BidaskClub raised shares of GlycoMimetics from a sell rating to a hold rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $23.00.
Shares of GlycoMimetics (NASDAQ GLYC) opened at $17.83 on Wednesday. GlycoMimetics has a 52 week low of $3.82 and a 52 week high of $26.05.
Institutional investors and hedge funds have recently modified their holdings of the company. USA Financial Portformulas Corp bought a new position in shares of GlycoMimetics during the 4th quarter worth approximately $573,000. Citadel Advisors LLC grew its stake in shares of GlycoMimetics by 607.1% during the 4th quarter. Citadel Advisors LLC now owns 413,119 shares of the biotechnology company’s stock worth $6,937,000 after acquiring an additional 354,697 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of GlycoMimetics by 94.3% during the 2nd quarter. Vanguard Group Inc. now owns 844,190 shares of the biotechnology company’s stock worth $9,421,000 after acquiring an additional 409,689 shares in the last quarter. Columbus Circle Investors grew its stake in shares of GlycoMimetics by 48.7% during the 3rd quarter. Columbus Circle Investors now owns 201,980 shares of the biotechnology company’s stock worth $2,826,000 after acquiring an additional 66,177 shares in the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of GlycoMimetics during the 4th quarter worth approximately $639,000. 92.90% of the stock is owned by institutional investors.
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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.
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