GlycoMimetics Inc Expected to Earn Q1 2021 Earnings of ($0.10) Per Share (NASDAQ:GLYC)

GlycoMimetics Inc (NASDAQ:GLYC) – Equities research analysts at Piper Jaffray Companies issued their Q1 2021 EPS estimates for shares of GlycoMimetics in a note issued to investors on Thursday, November 7th. Piper Jaffray Companies analyst D. Brill forecasts that the biotechnology company will earn ($0.10) per share for the quarter. Piper Jaffray Companies has a “Neutral” rating and a $5.00 price objective on the stock. Piper Jaffray Companies also issued estimates for GlycoMimetics’ Q2 2021 earnings at ($0.34) EPS and Q3 2021 earnings at ($0.36) EPS.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.08.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Zacks Investment Research raised shares of GlycoMimetics from a “sell” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of GlycoMimetics in a research note on Friday. ValuEngine cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, SunTrust Banks cut shares of GlycoMimetics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $23.00 to $5.00 in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.25.

Shares of GLYC traded down $0.28 during mid-day trading on Monday, hitting $5.96. 10,976 shares of the company traded hands, compared to its average volume of 444,051. GlycoMimetics has a one year low of $2.64 and a one year high of $14.22. The company has a current ratio of 17.54, a quick ratio of 17.54 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $4.82 and a 200 day moving average of $8.09. The stock has a market capitalization of $252.25 million, a price-to-earnings ratio of -5.01 and a beta of 2.74.

In other GlycoMimetics news, major shareholder Bvf Partners L. P/Il bought 1,668,746 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average price of $3.18 per share, with a total value of $5,306,612.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel M. Junius bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $3.18 per share, for a total transaction of $31,800.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at approximately $57,240. The disclosure for this purchase can be found here. Company insiders own 26.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. purchased a new position in shares of GlycoMimetics in the 2nd quarter worth about $56,816,000. FMR LLC increased its position in shares of GlycoMimetics by 10.3% during the 1st quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock valued at $48,553,000 after purchasing an additional 365,096 shares during the last quarter. AXA grew its stake in shares of GlycoMimetics by 0.6% during the 2nd quarter. AXA now owns 930,551 shares of the biotechnology company’s stock valued at $11,092,000 after acquiring an additional 5,407 shares during the period. Asymmetry Capital Management L.P. grew its stake in shares of GlycoMimetics by 263.5% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 498,023 shares of the biotechnology company’s stock valued at $5,936,000 after acquiring an additional 361,033 shares during the period. Finally, Northern Trust Corp grew its stake in shares of GlycoMimetics by 1.8% during the 2nd quarter. Northern Trust Corp now owns 467,600 shares of the biotechnology company’s stock valued at $5,574,000 after acquiring an additional 8,240 shares during the period.

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. The company's advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and is in a Phase III clinical trial, conducted by its strategic collaboration with Pfizer Inc It is also developing uproleselan, an E-selectin antagonist that is evaluated in a Phase I/II clinical trial as a potential treatment for acute myeloid leukemia (AML), as well as Phase III trial to treat relapsed/refractory AML.

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Earnings History and Estimates for GlycoMimetics (NASDAQ:GLYC)

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