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GlycoMimetics (NASDAQ:GLYC) announced late Friday afternoon that Pfizer's (NYSE:PFE) Phase 3 clinical trial evaluating Rivipansel in sickle cell disease has not met its primary or key secondary endpoints.
On Monday morning, a number of firms have downgraded the stock:
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- Jefferies downgraded the stock from Buy to Hold.
- SunTrust Robinson Humphrey downgraded from Buy to Hold and lowered the price target from $23 to $5.
- Piper Jaffray downgraded from Overweight to Neutral and lowered the price target from $20 to $6.
GlycoMimetics shares were trading down 51.81% at $4.40 in Monday’s pre-market session. The stock has a 52-week high of $17.07 and a 52-week low of $8.29.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.