GlycoMimetics Inc (GLYC) Expected to Announce Earnings of -$0.30 Per Share
Equities research analysts predict that GlycoMimetics Inc (NASDAQ:GLYC) will report ($0.30) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for GlycoMimetics’ earnings. The lowest EPS estimate is ($0.34) and the highest is ($0.27). GlycoMimetics reported earnings of ($0.24) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The firm is scheduled to announce its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that GlycoMimetics will report full-year earnings of ($1.24) per share for the current fiscal year, with EPS estimates ranging from ($1.33) to ($1.13). For the next financial year, analysts expect that the firm will report earnings of ($1.14) per share, with EPS estimates ranging from ($1.85) to ($0.09). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow GlycoMimetics.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Friday, August 10th. The biotechnology company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.08.
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of GlycoMimetics by 19.5% in the 1st quarter. BlackRock Inc. now owns 1,185,776 shares of the biotechnology company’s stock valued at $19,245,000 after purchasing an additional 193,828 shares during the last quarter. Northern Trust Corp increased its stake in shares of GlycoMimetics by 21.3% in the 1st quarter. Northern Trust Corp now owns 84,511 shares of the biotechnology company’s stock valued at $1,372,000 after purchasing an additional 14,868 shares during the last quarter. Jennison Associates LLC increased its stake in shares of GlycoMimetics by 1.7% in the 2nd quarter. Jennison Associates LLC now owns 1,593,857 shares of the biotechnology company’s stock valued at $25,709,000 after purchasing an additional 26,236 shares during the last quarter. State of Wisconsin Investment Board bought a new position in shares of GlycoMimetics in the 2nd quarter valued at $510,000. Finally, OppenheimerFunds Inc. increased its stake in shares of GlycoMimetics by 18.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,961,194 shares of the biotechnology company’s stock valued at $47,765,000 after purchasing an additional 456,269 shares during the last quarter.
GlycoMimetics stock opened at $13.86 on Friday. GlycoMimetics has a one year low of $10.25 and a one year high of $26.05. The firm has a market cap of $608.83 million, a price-to-earnings ratio of -12.27 and a beta of 3.23.
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. Its advanced drug candidate, rivipansel, is a pan-selectin antagonist, which is developed for the treatment of vaso-occlusive crisis in sickle cell disease and has evaluated in a Phase 3 clinical trial, conducted by its strategic collaboration with Pfizer Inc The company's drug candidate, GMI-1271, an E-selectin antagonist, is evaluated in a Phase 1/2 clinical trial as a potential treatment for acute myeloid leukemia and is in a Phase 1 clinical trial for the treatment of multiple myeloma.
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