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Glycomimetics target upped by Jefferies on positive leukemia data

June 6, 2017

Jefferies analyst, Biren Amin, reiterated his Buy rating on shares of Glycomimetics (NASDAQ: GLYC) and raised his price target to $16 after Updated GMI-1271 data in both r/r AML and 1L AML moderated on CR/CRi rates.

The analyst believes that the data in r/r AML remains better than standard of care, MEC chemo, and if response rates remain in this range there will be meaningful opportunity for GMI-1271 in this patient population. The next update from the trial will be at ASH where the analyst may also receive an update on the regulatory strategy.

The new PT of $16 is up from $9.

http://bit.ly/2rHvaja

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