GlycoMimetics (NASDAQ:GLYC) Announces Quarterly Earnings Results

GlycoMimetics (NASDAQ:GLYC) released its earnings results on Thursday. The biotechnology company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.08, Fidelity Earnings reports.

Shares of NASDAQ GLYC traded up $0.28 during trading on Friday, hitting $6.24. 283,200 shares of the company traded hands, compared to its average volume of 444,051. The firm has a market capitalization of $252.25 million, a P/E ratio of -5.29 and a beta of 2.74. The company has a 50-day moving average price of $4.82 and a 200-day moving average price of $8.09. The company has a quick ratio of 17.54, a current ratio of 17.54 and a debt-to-equity ratio of 0.02. GlycoMimetics has a 1 year low of $2.64 and a 1 year high of $14.22.

In other GlycoMimetics news, major shareholder Bvf Partners L. P/Il acquired 1,668,746 shares of the 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel M. Junius acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $3.18 per share, with a total value of $31,800.00. Following the transaction, the director now owns 18,000 shares in the company, valued at $57,240. The disclosure for this purchase can be found here. Corporate insiders own 26.80% of the company’s stock.

Several analysts have commented on GLYC shares. 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 research note on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of GlycoMimetics in a research note on Friday. SunTrust Banks cut shares of GlycoMimetics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $23.00 to $5.00 in a research note on Monday, August 5th. BidaskClub cut shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. 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. The stock currently has a consensus rating of “Hold” and an average target price of $8.25.

GlycoMimetics Company Profile

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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