GlycoMimetics (GLYC) Receives a Buy from Cowen & Co.


Cowen & Co. analyst Ritu Baral maintained a Buy rating on GlycoMimetics (NASDAQ: GLYC) yesterday. The company’s shares opened today at $14.46.

According to TipRanks.com, Baral is a top 100 analyst with an average return of 33.5% and a 56.3% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Allena Pharmaceuticals Inc, and Ionis Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for GlycoMimetics with a $29.50 average price target, representing a 104.0% upside. In a report issued on August 10, Stifel Nicolaus also reiterated a Buy rating on the stock with a $24 price target.

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The company has a one-year high of $26.05 and a one-year low of $10.06. Currently, GlycoMimetics has an average volume of 496.3K.

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.

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