SunTrust Robinson Humphrey Initiates Coverage on GlycoMimetics Inc to Buy

SunTrust Robinson Humphrey Initiates Coverage on GlycoMimetics Inc(NASDAQ:GLYC). The shares have been rated Buy. The rating by SunTrust Robinson Humphrey was issued on Jul 26, 2016.

GlycoMimetics Inc (GLYC) shares turned negative on Fridays trading session with the shares closing down -0.12 points or -1.42% at a volume of 2,80,550. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.72. The peak price level was also seen at $8.72 while the days lowest was $8.27. Finally the shares closed at $8.35. The 52-week high of the shares is $9.25 while the 52-week low is $3.7. According to the latest information available, the market cap of the company is $162 M.

GlycoMimetics Inc(GLYC) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Earnings per share were $-0.40. Analysts had estimated an EPS of $-0.47.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Helen M. Thackray (VP Clinical Development, CMO) sold 22,000 shares at $7.03 per share price.Also, On Mar 7, 2016, Mark Alan Goldberg (director) purchased 10,397 shares at $4.77 per share price.On Nov 18, 2015, Peter J Barris (10% owner) sold 452 shares at $6.91 per share price, according to the Form-4 filing with the securities and exchange commission.

GlycoMimetics Inc. (GlycoMimetics) is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs to address medical needs. The Company’s pipeline includes GMI-1070 (Rivipansel) GMI-1271 GMI-1359 (E-selectin and CXCR4 antagonist) GMI-1051 and Galectin inhibitors. The Company developing rivipansel to treat VOC (vaso-occlusive crisis) with the goal of reducing duration of VOC episodes length of hospital stay and use of opioid analgesics for pain management. The Company is developing GMI-1271 a specific E-selectin antagonist to be used in combination with chemotherapy to treat AML (acute myeloid leukemia) and other hematologic cancers. GMI-1359 simultaneously inhibits both E-selectin and CXCR4 for use in the treatment of cancers with bone marrow involvement such as myeloma. GMI-1051 is an antagonist of two pseudomonas virulence factors PA-IL and PA-IIL.

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