GlycoMimetics Inc. Expected to Post FY2016 Earnings of ($1.50) Per Share (GLYC)
GlycoMimetics Inc. (NASDAQ:GLYC) – Equities research analysts at SunTrust Banks cut their FY2016 EPS estimates for shares of GlycoMimetics in a report released on Monday. SunTrust Banks analyst Y. Suneja now forecasts that the firm will post earnings of ($1.50) per share for the year, down from their previous estimate of ($1.46). SunTrust Banks currently has a “Buy” rating and a $16.00 target price on the stock. SunTrust Banks also issued estimates for GlycoMimetics’ Q4 2016 earnings at ($0.37) EPS, Q1 2017 earnings at ($0.42) EPS and FY2017 earnings at ($1.40) EPS.
GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Friday, November 4th. The company reported ($0.34) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.10.
A number of other analysts have also weighed in on GLYC. Stifel Nicolaus upped their price objective on GlycoMimetics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Jefferies Group reiterated a “buy” rating on shares of GlycoMimetics in a research note on Friday, August 5th. Canaccord Genuity reiterated a “buy” rating and set a $12.00 target price on shares of GlycoMimetics in a research note on Sunday, August 7th. Zacks Investment Research downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Cowen and Company started coverage on shares of GlycoMimetics in a research note on Monday, August 15th. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $12.15.
GlycoMimetics (NASDAQ:GLYC) opened at 6.40 on Wednesday. The stock’s market cap is $147.62 million. GlycoMimetics has a 1-year low of $3.70 and a 1-year high of $9.25. The firm’s 50 day moving average price is $6.40 and its 200-day moving average price is $7.17.
In related news, VP Helen M. Thackray sold 4,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $7.00, for a total transaction of $28,000.00. Following the completion of the transaction, the vice president now owns 156,715 shares in the company, valued at $1,097,005. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 52.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BVF Inc. IL bought a new position in GlycoMimetics during the second quarter valued at about $17,793,000. Sphera Funds Management LTD. bought a new position in GlycoMimetics during the first quarter valued at about $2,014,000. BlackRock Fund Advisors increased its position in GlycoMimetics by 1,001.9% in the second quarter. BlackRock Fund Advisors now owns 269,857 shares of the company’s stock valued at $1,962,000 after buying an additional 245,366 shares in the last quarter. Vanguard Group Inc. increased its position in GlycoMimetics by 67.5% in the second quarter. Vanguard Group Inc. now owns 392,892 shares of the company’s stock valued at $2,857,000 after buying an additional 158,322 shares in the last quarter. Finally, State Street Corp bought a new position in GlycoMimetics during the second quarter valued at about $751,000. Institutional investors own 80.16% of the company’s stock.
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.
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