GlycoMimetics (NASDAQ:GLYC) Issues Earnings Results

GlycoMimetics (NASDAQ:GLYC) issued its earnings results on Thursday. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ 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’s stock traded hands, compared to its average volume of 444,051. The company has a current ratio of 17.54, a quick ratio of 17.54 and a debt-to-equity ratio of 0.02. GlycoMimetics has a 52 week low of $2.64 and a 52 week high of $14.22. The company has a market cap of $252.25 million, a price-to-earnings 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.

GLYC has been the topic of a number of recent analyst reports. SunTrust Banks cut GlycoMimetics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $23.00 to $5.00 in a report on Monday, August 5th. BidaskClub cut GlycoMimetics from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Piper Jaffray Companies restated a “neutral” rating and set a $5.00 target price (down previously from $6.00) on shares of GlycoMimetics in a report on Thursday. ValuEngine cut GlycoMimetics from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded GlycoMimetics from a “sell” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $8.25.

In other GlycoMimetics news, major shareholder Bvf Partners L. P/Il purchased 1,668,746 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average cost of $3.18 per share, with a total value of $5,306,612.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel M. Junius purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $3.18 per share, with a total value of $31,800.00. Following the completion of the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at $57,240. The disclosure for this purchase can be found here. 26.80% of the stock is currently owned by insiders.

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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