GlycoMimetics Inc (GLYC) Expected to Announce Earnings of -$0.28 Per Share

Equities analysts forecast that GlycoMimetics Inc (NASDAQ:GLYC) will announce earnings of ($0.28) per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for GlycoMimetics’ earnings. The lowest EPS estimate is ($0.30) and the highest is ($0.27). GlycoMimetics reported earnings of ($0.34) per share in the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The company is scheduled to report its next quarterly earnings report on Monday, May 14th.

According to Zacks, analysts expect that GlycoMimetics will report full-year earnings of ($1.01) per share for the current fiscal year, with EPS estimates ranging from ($1.50) to $0.33. For the next year, analysts anticipate that the company will post earnings of ($1.49) per share, with EPS estimates ranging from ($1.87) to ($1.12). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow GlycoMimetics.

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GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.01).

A number of equities research analysts have recently weighed in on GLYC shares. ValuEngine upgraded GlycoMimetics from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Roth Capital set a $35.00 price objective on GlycoMimetics and gave the stock a “buy” rating in a research note on Thursday, February 8th. BidaskClub upgraded GlycoMimetics from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Stifel Nicolaus upped their price objective on GlycoMimetics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Finally, Jefferies Group restated a “buy” rating and set a $21.00 price objective on shares of GlycoMimetics in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. GlycoMimetics has a consensus rating of “Buy” and an average price target of $23.00.

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in GlycoMimetics during the 4th quarter worth $103,000. Paloma Partners Management Co acquired a new position in GlycoMimetics during the 4th quarter worth $170,000. First Mercantile Trust Co. boosted its position in GlycoMimetics by 26.6% during the 4th quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock worth $197,000 after acquiring an additional 2,466 shares during the period. Virtu Financial LLC acquired a new position in GlycoMimetics during the 4th quarter worth $210,000. Finally, MYDA Advisors LLC acquired a new position in GlycoMimetics during the 4th quarter worth $252,000. Hedge funds and other institutional investors own 77.02% of the company’s stock.

Shares of NASDAQ GLYC opened at $17.58 on Wednesday. GlycoMimetics has a twelve month low of $3.82 and a twelve month high of $26.05. The company has a market capitalization of $727.10, a PE ratio of -15.56 and a beta of 3.43.

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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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