SunTrust Banks Weighs in on GlycoMimetics Inc’s FY2018 Earnings (GLYC)

GlycoMimetics Inc (NASDAQ:GLYC) – Analysts at SunTrust Banks raised their FY2018 earnings estimates for GlycoMimetics in a note issued to investors on Sunday, November 4th. SunTrust Banks analyst P. Lawson now expects that the biotechnology company will post earnings of ($1.13) per share for the year, up from their previous forecast of ($1.28). SunTrust Banks also issued estimates for GlycoMimetics’ Q4 2018 earnings at ($0.28) EPS, FY2019 earnings at ($1.38) EPS, FY2020 earnings at ($1.46) EPS, FY2021 earnings at ($1.52) EPS and FY2022 earnings at ($1.13) EPS.

GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Friday, November 2nd. The biotechnology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.03.

Several other research analysts also recently weighed in on GLYC. BidaskClub raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday. Roth Capital set a $35.00 target price on shares of GlycoMimetics and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine downgraded shares of GlycoMimetics from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $24.00 price objective on shares of GlycoMimetics in a research report on Sunday, August 12th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. GlycoMimetics presently has an average rating of “Buy” and a consensus target price of $25.00.

GlycoMimetics stock opened at $14.19 on Wednesday. The company has a market capitalization of $576.31 million, a PE ratio of -12.13 and a beta of 3.08. GlycoMimetics has a fifty-two week low of $10.90 and a fifty-two week high of $26.05.

Hedge funds and other institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System acquired a new stake in GlycoMimetics in the first quarter valued at approximately $166,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of GlycoMimetics in the second quarter worth $189,000. Voya Investment Management LLC acquired a new stake in shares of GlycoMimetics in the second quarter worth $205,000. WINTON GROUP Ltd acquired a new stake in shares of GlycoMimetics in the third quarter worth $186,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of GlycoMimetics in the second quarter worth $264,000.

In related news, SVP John L. Magnani sold 14,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $14.01, for a total transaction of $198,942.00. Following the transaction, the senior vice president now directly owns 86,593 shares of the company’s stock, valued at $1,213,167.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John L. Magnani sold 25,000 shares of GlycoMimetics stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $14.01, for a total transaction of $350,250.00. Following the completion of the sale, the senior vice president now owns 86,593 shares of the company’s stock, valued at $1,213,167.93. The disclosure for this sale can be found here. Insiders own 43.80% of the company’s stock.

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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Earnings History and Estimates for GlycoMimetics (NASDAQ:GLYC)

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