SunTrust Banks Weighs in on GlycoMimetics Inc’s Q1 2018 Earnings (GLYC)
GlycoMimetics Inc (NASDAQ:GLYC) – Research analysts at SunTrust Banks decreased their Q1 2018 earnings estimates for shares of GlycoMimetics in a research report issued on Tuesday. SunTrust Banks analyst Y. Suneja now anticipates that the biotechnology company will post earnings of ($0.29) per share for the quarter, down from their previous forecast of ($0.27). SunTrust Banks has a “Buy” rating and a $32.00 price objective on the stock. SunTrust Banks also issued estimates for GlycoMimetics’ Q4 2018 earnings at ($0.38) EPS, FY2018 earnings at ($1.31) EPS, FY2019 earnings at ($1.87) EPS, FY2020 earnings at ($2.10) EPS and FY2021 earnings at ($0.32) EPS.
GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Tuesday, March 6th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.01).
Shares of GlycoMimetics (GLYC) opened at $17.83 on Friday. GlycoMimetics has a 1 year low of $3.82 and a 1 year high of $26.05. The stock has a market cap of $608.15, a P/E ratio of -14.38 and a beta of 3.22.
A number of institutional investors have recently made changes to their positions in GLYC. SG Americas Securities LLC purchased a new position in shares of GlycoMimetics during the fourth quarter worth approximately $103,000. Paloma Partners Management Co purchased a new position in shares of GlycoMimetics during the fourth quarter worth approximately $170,000. First Mercantile Trust Co. raised its stake in shares of GlycoMimetics by 26.6% during the fourth quarter. First Mercantile Trust Co. now owns 11,726 shares of the biotechnology company’s stock worth $197,000 after acquiring an additional 2,466 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of GlycoMimetics during the fourth quarter worth approximately $210,000. Finally, MYDA Advisors LLC purchased a new position in shares of GlycoMimetics during the fourth quarter worth approximately $252,000. Institutional investors and hedge funds own 92.90% of the company’s stock.
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GlycoMimetics Company Profile
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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