SunTrust Banks Comments on GlycoMimetics, Inc.’s Q1 2018 Earnings (GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – Investment analysts at SunTrust Banks issued their Q1 2018 earnings per share estimates for shares of GlycoMimetics in a research note issued to investors on Thursday. SunTrust Banks analyst Y. Suneja forecasts that the biotechnology company will post earnings of ($0.27) per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $21.00 target price on the stock. SunTrust Banks also issued estimates for GlycoMimetics’ Q2 2018 earnings at ($0.29) EPS, Q3 2018 earnings at ($0.33) EPS, Q4 2018 earnings at ($0.31) EPS, FY2018 earnings at ($1.20) EPS, FY2019 earnings at ($1.35) EPS and FY2021 earnings at ($0.85) EPS.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.04.

TRADEMARK VIOLATION WARNING: “SunTrust Banks Comments on GlycoMimetics, Inc.’s Q1 2018 Earnings (GLYC)” was first reported by Markets Daily and is the property of of Markets Daily. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.themarketsdaily.com/2017/11/13/suntrust-banks-comments-on-glycomimetics-inc-s-q1-2018-earnings-glyc.html.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 target price (up from $13.00) on shares of GlycoMimetics in a report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of GlycoMimetics in a report on Thursday, October 26th. Finally, ValuEngine raised GlycoMimetics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $17.67.

GlycoMimetics (NASDAQ:GLYC) opened at $11.71 on Monday. GlycoMimetics has a 52 week low of $3.82 and a 52 week high of $16.94.

Several hedge funds and other institutional investors have recently made changes to their positions in GLYC. Dynamic Technology Lab Private Ltd purchased a new stake in GlycoMimetics in the 2nd quarter worth about $146,000. Fox Run Management L.L.C. purchased a new stake in GlycoMimetics in the 3rd quarter worth about $173,000. Citadel Advisors LLC purchased a new stake in GlycoMimetics in the 2nd quarter worth about $249,000. Russell Investments Group Ltd. lifted its stake in GlycoMimetics by 172.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after acquiring an additional 19,859 shares in the last quarter. Finally, TD Asset Management Inc. purchased a new stake in GlycoMimetics in the 2nd quarter worth about $362,000. 92.47% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Helen M. Thackray sold 2,000 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $13.00, for a total transaction of $26,000.00. Following the completion of the sale, the senior vice president now directly owns 150,615 shares of the company’s stock, valued at $1,957,995. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 43.80% of the company’s stock.

About GlycoMimetics

GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.

Earnings History and Estimates for GlycoMimetics (NASDAQ:GLYC)

Receive News & Ratings for GlycoMimetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlycoMimetics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply