GlycoMimetics (NASDAQ:GLYC) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

GlycoMimetics (NASDAQ:GLYC) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.01), Morningstar.com reports.

GlycoMimetics stock traded down $0.12 during mid-day trading on Friday, reaching $9.13. The company had a trading volume of 722,562 shares, compared to its average volume of 700,790. GlycoMimetics has a fifty-two week low of $8.29 and a fifty-two week high of $17.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 23.88 and a current ratio of 23.88. The firm has a market cap of $399.43 million, a P/E ratio of -7.74 and a beta of 2.45. The company has a fifty day moving average of $11.16.

GLYC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, July 4th. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of GlycoMimetics in a research report on Friday, April 12th. BidaskClub lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Cowen restated a “buy” rating on shares of GlycoMimetics in a research report on Friday, May 3rd. Finally, Piper Jaffray Companies initiated coverage on shares of GlycoMimetics in a research report on Friday, April 12th. They issued an “overweight” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $23.00.

A number of institutional investors have recently modified their holdings of GLYC. FMR LLC boosted its position in GlycoMimetics by 10.3% in the first quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock valued at $48,553,000 after buying an additional 365,096 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in GlycoMimetics by 58.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,420 shares of the biotechnology company’s stock valued at $5,847,000 after buying an additional 228,664 shares in the last quarter. Asymmetry Capital Management L.P. acquired a new stake in GlycoMimetics in the first quarter valued at approximately $1,707,000. Candriam Luxembourg S.C.A. acquired a new stake in GlycoMimetics in the first quarter valued at approximately $915,000. Finally, Squarepoint Ops LLC boosted its position in GlycoMimetics by 259.3% in the fourth quarter. Squarepoint Ops LLC now owns 84,115 shares of the biotechnology company’s stock valued at $797,000 after buying an additional 60,701 shares in the last quarter.

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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