Stifel Nicolaus Reiterates a Buy Rating on GlycoMimetics (GLYC)

By Ryan Adsit

Stifel Nicolaus analyst Stephen Willey reiterated a Buy rating on GlycoMimetics (NASDAQ: GLYC) on August 10 and set a price target of $24. The company’s shares closed on Friday at $14.45.

According to TipRanks.com, Willey is a 5-star analyst with an average return of 20.5% and a 51.8% success rate. Willey covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Alexion Pharmaceuticals, and Lexicon Pharmaceuticals.

Currently, the analyst consensus on GlycoMimetics is a Moderate Buy with an average price target of $29.50.

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Based on GlycoMimetics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.28 million. In comparison, last year the company had a GAAP net loss of $8.14 million.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Brian Hahn, the CFO of GLYC sold 19,345 shares for a total of $348,984.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

GlycoMimetics, Inc. operates as a clinical stage biotechnology company, which focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in which carbohydrate biology plays a key role. It develops proprietary glycomimetics that inhibit disease-related functions of carbohydrates.