GlycoMimetics (NASDAQ:GLYC) Announces Earnings Results, Beats Expectations By $0.08 EPS

GlycoMimetics (NASDAQ:GLYC) announced its earnings results on Thursday. The biotechnology company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08, Fidelity Earnings reports.

Shares of NASDAQ:GLYC traded up $0.28 on Friday, reaching $6.24. The company’s stock had a trading volume of 283,200 shares, compared to its average volume of 444,051. The stock’s 50-day moving average is $4.82 and its two-hundred day moving average is $8.09. The stock has a market capitalization of $252.25 million, a P/E ratio of -5.29 and a beta of 2.74. GlycoMimetics has a 52-week low of $2.64 and a 52-week high of $14.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 17.54 and a quick ratio of 17.54.

A number of equities research analysts have recently commented on the stock. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $5.00 target price (down from $6.00) on shares of GlycoMimetics in a report on Thursday. Jefferies Financial Group cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a report on Monday, August 5th. BidaskClub cut shares of GlycoMimetics from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Zacks Investment Research raised shares of GlycoMimetics from a “sell” rating to a “buy” rating and set a $5.00 target price for the company in a report on Wednesday, October 9th. Finally, SunTrust Banks cut shares of GlycoMimetics from a “buy” rating to a “hold” rating and reduced their target price for the company from $23.00 to $5.00 in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.25.

In other GlycoMimetics news, Director Daniel M. Junius purchased 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $3.18 per share, for a total transaction of $31,800.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $57,240. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Bvf Partners L. P/Il purchased 1,668,746 shares of the stock in a transaction dated Thursday, September 5th. The stock was acquired at an average price of $3.18 per share, for a total transaction of $5,306,612.28. The disclosure for this purchase can be found here. 26.80% of the stock is owned by corporate insiders.

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 for GlycoMimetics (NASDAQ:GLYC)

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