GlycoMimetics, Inc. (NASDAQ:GLYC) Expected to Announce Earnings of -$0.32 Per Share


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Wall Street analysts expect GlycoMimetics, Inc. (NASDAQ:GLYC) to post earnings of ($0.32) per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for GlycoMimetics’ earnings. The highest EPS estimate is ($0.29) and the lowest is ($0.34). GlycoMimetics posted earnings per share of ($0.18) during the same quarter last year, which would indicate a negative year over year growth rate of 77.8%. The business is expected to issue its next quarterly earnings results on Friday, May 7th.

On average, analysts expect that GlycoMimetics will report full-year earnings of ($1.28) per share for the current financial year, with EPS estimates ranging from ($1.36) to ($1.15). For the next fiscal year, analysts expect that the business will post earnings of ($1.40) per share, with EPS estimates ranging from ($1.45) to ($1.28). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow GlycoMimetics.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Monday, March 1st. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32).

GLYC has been the topic of a number of analyst reports. Roth Capital raised their price objective on shares of GlycoMimetics from $9.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 8th. Zacks Investment Research upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Friday, March 5th. Finally, HC Wainwright reiterated a “buy” rating on shares of GlycoMimetics in a research report on Wednesday, March 10th.

Several hedge funds have recently made changes to their positions in GLYC. FMR LLC grew its stake in GlycoMimetics by 10.3% in the 1st quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock valued at $48,553,000 after acquiring an additional 365,096 shares during the period. The Manufacturers Life Insurance Company purchased a new position in GlycoMimetics during the third quarter valued at $69,000. State Street Corp grew its position in shares of GlycoMimetics by 2.9% in the third quarter. State Street Corp now owns 672,110 shares of the biotechnology company’s stock valued at $2,063,000 after purchasing an additional 18,906 shares during the period. Prentiss Smith & Co. Inc. purchased a new stake in shares of GlycoMimetics during the fourth quarter worth about $53,000. Finally, SG Americas Securities LLC acquired a new position in shares of GlycoMimetics during the 4th quarter worth about $55,000. 82.15% of the stock is owned by institutional investors and hedge funds.

GLYC stock traded up $0.07 during trading on Wednesday, hitting $3.18. 928,876 shares of the company traded hands, compared to its average volume of 837,420. GlycoMimetics has a 1 year low of $2.21 and a 1 year high of $5.19. The stock’s 50-day simple moving average is $3.31 and its 200 day simple moving average is $3.53. The company has a market cap of $163.75 million, a PE ratio of -2.81 and a beta of 2.46.

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. The company's drug candidate include rivipansel, a pan-selectin antagonist, which has completed Phase III clinical trial for the treatment of vaso-occlusive crisis in sickle cell disease.

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Earnings History and Estimates for GlycoMimetics (NASDAQ:GLYC)

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