Cowen & Co. Keeps a Buy Rating on GlycoMimetics (GLYC)


In a report released yesterday, Ritu Baral from Cowen & Co. maintained a Buy rating on GlycoMimetics (GLYC). The company’s shares closed yesterday at $11.94.

According to TipRanks.com, Baral is a top 100 analyst with an average return of 27.3% and a 51.0% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.

GlycoMimetics has an analyst consensus of Strong Buy, with a price target consensus of $21.50, implying an 80.1% upside from current levels. In a report issued on April 23, H.C. Wainwright also maintained a Buy rating on the stock with a $23 price target.

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Based on GlycoMimetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $13.91 million. In comparison, last year the company had a GAAP net loss of $11.51 million.

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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.

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