GlycoMimetics Inc (GLYC) Expected to Announce Earnings of -$0.30 Per Share

Equities research analysts expect that GlycoMimetics Inc (NASDAQ:GLYC) will post earnings per share (EPS) of ($0.30) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for GlycoMimetics’ earnings, with estimates ranging from ($0.35) to ($0.28). GlycoMimetics reported earnings of ($0.27) per share in the same quarter last year, which would suggest a negative year over year growth rate of 11.1%. The business is scheduled to announce its next earnings results on Tuesday, March 5th.

According to Zacks, analysts expect that GlycoMimetics will report full year earnings of ($1.16) per share for the current year, with EPS estimates ranging from ($1.21) to ($1.13). For the next financial year, analysts expect that the firm will report earnings of ($1.04) per share, with EPS estimates ranging from ($1.55) to ($0.10). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for GlycoMimetics.

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

Several research analysts have issued reports on GLYC shares. BidaskClub upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Stifel Nicolaus restated a “buy” rating and issued a $24.00 price target on shares of GlycoMimetics in a research report on Sunday, August 12th. Cowen restated a “buy” rating on shares of GlycoMimetics in a research report on Monday, August 13th. Zacks Investment Research lowered shares of GlycoMimetics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, ValuEngine upgraded shares of GlycoMimetics from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $28.00.

In related news, SVP John L. Magnani sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $14.01, for a total value of $350,250.00. Following the completion of the transaction, the senior vice president now owns 86,593 shares of the company’s stock, valued at approximately $1,213,167.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John L. Magnani sold 14,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $14.01, for a total transaction of $198,942.00. Following the completion of the transaction, the senior vice president now directly owns 86,593 shares of the company’s stock, valued at approximately $1,213,167.93. The disclosure for this sale can be found here. Insiders own 43.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its stake in GlycoMimetics by 2.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 185,000 shares of the biotechnology company’s stock worth $2,664,000 after purchasing an additional 5,000 shares during the period. Teachers Advisors LLC boosted its stake in GlycoMimetics by 7.9% in the 3rd quarter. Teachers Advisors LLC now owns 69,350 shares of the biotechnology company’s stock worth $999,000 after purchasing an additional 5,058 shares during the period. Alliancebernstein L.P. boosted its stake in GlycoMimetics by 44.2% in the 3rd quarter. Alliancebernstein L.P. now owns 22,500 shares of the biotechnology company’s stock worth $324,000 after purchasing an additional 6,900 shares during the period. MetLife Investment Advisors LLC boosted its stake in GlycoMimetics by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 25,810 shares of the biotechnology company’s stock worth $372,000 after purchasing an additional 9,175 shares during the period. Finally, Sphera Funds Management LTD. boosted its stake in GlycoMimetics by 4.6% in the 3rd quarter. Sphera Funds Management LTD. now owns 251,013 shares of the biotechnology company’s stock worth $3,615,000 after purchasing an additional 11,080 shares during the period.

GlycoMimetics stock opened at $10.55 on Wednesday. The company has a market capitalization of $468.90 million, a price-to-earnings ratio of -9.34 and a beta of 3.04. GlycoMimetics has a 1 year low of $10.43 and a 1 year high of $26.05.

About GlycoMimetics

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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