Wall Street analysts expect GlycoMimetics Inc (NASDAQ:GLYC) to report earnings of ($0.26) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for GlycoMimetics’ earnings. The highest EPS estimate is ($0.25) and the lowest is ($0.27). GlycoMimetics posted earnings of ($0.36) per share in the same quarter last year, which would suggest a positive year over year growth rate of 27.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 7th.
On average, analysts expect that GlycoMimetics will report full-year earnings of ($1.12) per share for the current year, with EPS estimates ranging from ($1.15) to ($1.11). For the next fiscal year, analysts forecast that the company will report earnings of ($0.86) per share, with EPS estimates ranging from ($1.73) to $0.34. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for GlycoMimetics.
GLYC has been the topic of a number of research reports. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Zacks Investment Research lowered GlycoMimetics from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. SunTrust Banks raised their price target on GlycoMimetics to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Roth Capital initiated coverage on GlycoMimetics in a report on Monday, October 23rd. They set a “buy” rating and a $25.00 price target on the stock. Finally, Cowen reissued a “buy” rating on shares of GlycoMimetics in a report on Wednesday, December 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.67.
A number of institutional investors and hedge funds have recently made changes to their positions in GLYC. FMR LLC purchased a new stake in GlycoMimetics in the 2nd quarter valued at approximately $16,780,000. Redmile Group LLC boosted its holdings in GlycoMimetics by 59.0% in the 4th quarter. Redmile Group LLC now owns 1,930,668 shares of the biotechnology company’s stock valued at $32,416,000 after purchasing an additional 716,580 shares in the last quarter. AXA purchased a new stake in GlycoMimetics in the 4th quarter valued at approximately $8,579,000. Janus Henderson Group PLC purchased a new stake in GlycoMimetics in the 2nd quarter valued at approximately $5,598,000. Finally, BlackRock Inc. boosted its holdings in GlycoMimetics by 89.1% in the 4th quarter. BlackRock Inc. now owns 991,948 shares of the biotechnology company’s stock valued at $16,655,000 after purchasing an additional 467,338 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.
Shares of GlycoMimetics (NASDAQ GLYC) opened at $25.01 on Tuesday. GlycoMimetics has a 52-week low of $3.82 and a 52-week high of $26.05. The company has a market capitalization of $858.79, a PE ratio of -20.17 and a beta of 3.40.
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GlycoMimetics Company Profile
GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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