Zacks: Brokerages Anticipate GlycoMimetics Inc (GLYC) Will Announce Earnings of -$0.30 Per Share

Wall Street brokerages forecast that GlycoMimetics Inc (NASDAQ:GLYC) will report earnings of ($0.30) per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for GlycoMimetics’ earnings. The lowest EPS estimate is ($0.35) and the highest is ($0.28). GlycoMimetics posted earnings of ($0.27) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, March 5th.

On average, 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 year, analysts expect that the business will post earnings of ($1.12) per share, with EPS estimates ranging from ($1.55) to ($0.10). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for GlycoMimetics.

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

GLYC has been the subject of several research analyst reports. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Zacks Investment Research lowered GlycoMimetics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. HC Wainwright initiated coverage on GlycoMimetics in a research report on Tuesday, December 18th. They set a “buy” rating and a $24.00 target price for the company. ValuEngine lowered GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, Roth Capital set a $35.00 target price on GlycoMimetics and gave the company a “buy” rating in a research report on Monday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $23.75.

NASDAQ GLYC traded up $0.22 on Friday, reaching $10.81. The company had a trading volume of 193,924 shares, compared to its average volume of 329,784. The firm has a market capitalization of $466.31 million, a P/E ratio of -9.57 and a beta of 2.88. GlycoMimetics has a 52-week low of $8.29 and a 52-week high of $26.05.

Several institutional investors have recently made changes to their positions in GLYC. Redmile Group LLC grew its stake in shares of GlycoMimetics by 0.9% during the 3rd quarter. Redmile Group LLC now owns 2,048,147 shares of the biotechnology company’s stock worth $29,493,000 after acquiring an additional 18,800 shares during the period. Schwab Charles Investment Management Inc. bought a new position in shares of GlycoMimetics during the 2nd quarter worth $1,194,000. MetLife Investment Advisors LLC bought a new position in shares of GlycoMimetics during the 2nd quarter worth $268,000. Jefferies Group LLC bought a new position in shares of GlycoMimetics during the 3rd quarter worth $2,458,000. Finally, Metropolitan Life Insurance Co. NY bought a new position in shares of GlycoMimetics during the 2nd quarter worth $189,000.

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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