In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on GlycoMimetics (GLYC), with a price target of $23. The company’s shares opened today at $12.50.
According to TipRanks.com, White is a 5-star analyst with an average return of 13.2% and a 48.0% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Aileron Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for GlycoMimetics with a $21.50 average price target, which is a 72.0% upside from current levels. In a report issued on April 12, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $20 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.
