GlycoMimetics (NASDAQ:GLYC) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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

GLYC stock traded up $0.28 on Friday, hitting $6.24. 283,200 shares of the company’s stock traded hands, compared to its average volume of 444,051. The stock has a fifty day moving average of $4.82 and a 200-day moving average of $8.09. GlycoMimetics has a 1-year low of $2.64 and a 1-year high of $14.22. The stock 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 current ratio of 17.54, a quick ratio of 17.54 and a debt-to-equity ratio of 0.02.

Several analysts recently commented on GLYC shares. BidaskClub lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. SunTrust Banks lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating and cut their target price for the company from $23.00 to $5.00 in a research note on Monday, August 5th. Jefferies Financial Group lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of GlycoMimetics in a research note on Friday. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.25.

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

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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