FY2020 EPS Estimates for GlycoMimetics Inc Increased by SunTrust Banks (GLYC)

GlycoMimetics Inc (NASDAQ:GLYC) – Analysts at SunTrust Banks upped their FY2020 EPS estimates for GlycoMimetics in a research note issued on Wednesday, November 28th. SunTrust Banks analyst P. Lawson now anticipates that the biotechnology company will post earnings per share of ($1.41) for the year, up from their prior forecast of ($1.46). SunTrust Banks also issued estimates for GlycoMimetics’ FY2021 earnings at ($1.46) EPS and FY2022 earnings at ($1.09) EPS.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Friday, November 2nd. The biotechnology company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03.

Several other research analysts also recently commented on GLYC. Stifel Nicolaus reissued a “buy” rating and set a $24.00 price target on shares of GlycoMimetics in a research note on Sunday, August 12th. Cowen reissued a “buy” rating on shares of GlycoMimetics in a research note on Monday, August 13th. BidaskClub raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. ValuEngine downgraded shares of GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 17th. Finally, Zacks Investment Research downgraded shares of GlycoMimetics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. GlycoMimetics has an average rating of “Buy” and an average target price of $28.00.

GLYC stock opened at $11.90 on Monday. The company has a market cap of $495.65 million, a price-to-earnings ratio of -10.53 and a beta of 3.05. GlycoMimetics has a one year low of $10.93 and a one year high of $26.05.

In other news, SVP John L. Magnani sold 14,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $14.01, for a total value of $198,942.00. Following the transaction, the senior vice president now owns 86,593 shares in the company, valued at $1,213,167.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John L. Magnani sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $14.01, for a total transaction of $350,250.00. Following the completion of the transaction, the senior vice president now owns 86,593 shares in the company, valued at approximately $1,213,167.93. The disclosure for this sale can be found here. 26.10% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of GLYC. BlackRock Inc. grew its holdings in shares of GlycoMimetics by 136.4% in the second quarter. BlackRock Inc. now owns 2,803,151 shares of the biotechnology company’s stock worth $45,214,000 after purchasing an additional 1,617,375 shares during the last quarter. NEA Management Company LLC grew its holdings in shares of GlycoMimetics by 5.9% in the second quarter. NEA Management Company LLC now owns 9,089,041 shares of the biotechnology company’s stock worth $146,606,000 after purchasing an additional 504,913 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of GlycoMimetics by 18.2% in the second quarter. OppenheimerFunds Inc. now owns 2,961,194 shares of the biotechnology company’s stock worth $47,765,000 after purchasing an additional 456,269 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of GlycoMimetics in the third quarter worth approximately $5,598,000. Finally, Man Group plc grew its holdings in shares of GlycoMimetics by 627.1% in the third quarter. Man Group plc now owns 411,995 shares of the biotechnology company’s stock worth $5,933,000 after purchasing an additional 355,329 shares during the last quarter.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a clinical stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.

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Earnings History and Estimates for GlycoMimetics (NASDAQ:GLYC)

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