GlycoMimetics, Inc. (NASDAQ:GLYC) – Equities researchers at Jefferies Group increased their FY2017 earnings per share estimates for shares of GlycoMimetics in a note issued to investors on Wednesday. Jefferies Group analyst B. Amin now expects that the biotechnology company will post earnings of ($1.11) per share for the year, up from their previous forecast of ($1.28). Jefferies Group has a “Buy” rating and a $16.00 price target on the stock. Jefferies Group also issued estimates for GlycoMimetics’ Q4 2017 earnings at ($0.25) EPS, FY2018 earnings at $0.34 EPS, FY2019 earnings at ($1.17) EPS and FY2020 earnings at $0.37 EPS.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04.
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Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday, October 6th. SunTrust Banks, Inc. restated a “buy” rating and issued a $21.00 target price on shares of GlycoMimetics in a research note on Wednesday, October 4th. Stifel Nicolaus restated a “buy” rating and issued a $17.00 target price (up previously from $13.00) on shares of GlycoMimetics in a research note on Friday, August 4th. Roth Capital initiated coverage on shares of GlycoMimetics in a research note on Monday, October 23rd. They issued a “buy” rating and a $25.00 target price on the stock. Finally, BidaskClub upgraded shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $17.67.
Shares of GlycoMimetics (NASDAQ:GLYC) opened at $11.71 on Monday. GlycoMimetics has a 12 month low of $3.82 and a 12 month high of $16.94.
In related news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the sale, the senior vice president now owns 150,615 shares in the company, valued at $1,957,995. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 43.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its stake in GlycoMimetics by 161.9% during the third quarter. Citadel Advisors LLC now owns 58,422 shares of the biotechnology company’s stock worth $817,000 after acquiring an additional 36,111 shares during the period. EAM Investors LLC raised its stake in GlycoMimetics by 9.5% during the third quarter. EAM Investors LLC now owns 371,030 shares of the biotechnology company’s stock worth $5,191,000 after acquiring an additional 32,285 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in GlycoMimetics by 43.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 18,974 shares of the biotechnology company’s stock worth $265,000 after acquiring an additional 5,767 shares during the period. Columbus Circle Investors raised its stake in GlycoMimetics by 48.7% during the third quarter. Columbus Circle Investors now owns 201,980 shares of the biotechnology company’s stock worth $2,826,000 after acquiring an additional 66,177 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in GlycoMimetics during the third quarter worth about $173,000. Hedge funds and other institutional investors own 92.47% of the company’s stock.
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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