GlycoMimetics (NASDAQ:GLYC) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

GlycoMimetics (NASDAQ:GLYC) posted its earnings results on Thursday. The biotechnology company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.08, Fidelity Earnings reports.

GlycoMimetics stock traded up $0.28 during trading on Friday, reaching $6.24. The company had a trading volume of 283,200 shares, compared to its average volume of 444,051. The firm has a market capitalization of $252.25 million, a PE ratio of -5.29 and a beta of 2.74. GlycoMimetics has a 1-year low of $2.64 and a 1-year high of $14.22. The firm’s 50-day simple moving average is $4.82 and its 200 day simple moving average is $8.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.54 and a current ratio of 17.54.

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

GLYC has been the subject of several recent research reports. SunTrust Banks lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating and cut their target price for the company from $23.00 to $5.00 in a report 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 target on the stock in a research note on Wednesday, October 9th. Piper Jaffray Companies reissued a “neutral” rating and issued a $5.00 price target (down previously from $6.00) on shares of GlycoMimetics in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of GlycoMimetics in a research note on Friday. Finally, ValuEngine cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.25.

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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