Zacks: Brokerages Anticipate GlycoMimetics Inc (GLYC) Will Announce Earnings of -$0.33 Per Share

Wall Street analysts expect GlycoMimetics Inc (NASDAQ:GLYC) to report earnings per share of ($0.33) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for GlycoMimetics’ earnings. The lowest EPS estimate is ($0.36) and the highest is ($0.30). GlycoMimetics reported earnings per share of ($0.30) in the same quarter last year, which would suggest a negative year over year growth rate of 10%. The firm is expected to report its next earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that GlycoMimetics will report full year earnings of ($1.18) per share for the current financial year, with EPS estimates ranging from ($1.84) to $0.04. For the next financial year, analysts anticipate that the company will report earnings of ($1.54) per share, with EPS estimates ranging from ($1.85) to ($1.18). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover GlycoMimetics.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, May 3rd. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05).



A number of research firms have weighed in on GLYC. ValuEngine lowered shares of GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BidaskClub lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Finally, Stifel Nicolaus raised their price target on shares of GlycoMimetics from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $25.20.

In related news, Director M James Barrett sold 9,539 shares of the firm’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $17.81, for a total transaction of $169,889.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian M. Hahn sold 19,345 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $18.04, for a total transaction of $348,983.80. Following the transaction, the chief financial officer now directly owns 19,345 shares in the company, valued at $348,983.80. The disclosure for this sale can be found here. 43.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLYC. Allianz Asset Management GmbH purchased a new stake in GlycoMimetics during the first quarter worth about $1,192,000. Millennium Management LLC increased its holdings in GlycoMimetics by 1,696.4% during the first quarter. Millennium Management LLC now owns 236,634 shares of the biotechnology company’s stock worth $3,841,000 after buying an additional 223,461 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in GlycoMimetics during the first quarter worth about $2,062,000. Redmile Group LLC increased its holdings in GlycoMimetics by 18.2% during the first quarter. Redmile Group LLC now owns 2,282,268 shares of the biotechnology company’s stock worth $37,041,000 after buying an additional 351,600 shares during the last quarter. Finally, Element Capital Management LLC purchased a new stake in GlycoMimetics during the first quarter worth about $809,000.

GlycoMimetics stock opened at $14.89 on Tuesday. GlycoMimetics has a 1-year low of $10.06 and a 1-year high of $26.05. The firm has a market capitalization of $672.30 million, a price-to-earnings ratio of -13.18 and a beta of 3.42.

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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