Zacks: Brokerages Expect GlycoMimetics Inc (GLYC) to Post -$0.30 EPS
Wall Street analysts expect GlycoMimetics Inc (NASDAQ:GLYC) to announce ($0.30) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made 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 indicate a negative year-over-year growth rate of 25%. The company is expected to issue its next quarterly earnings report on Wednesday, November 14th.
On average, analysts expect that GlycoMimetics will report full-year earnings of ($1.24) per share for the current financial year, with EPS estimates ranging from ($1.33) to ($1.13). For the next financial year, analysts forecast that the business will post earnings of ($1.14) per share, with EPS estimates ranging from ($1.85) to ($0.09). Zacks’ earnings per share averages are an average based on a survey of analysts that cover GlycoMimetics.
GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Friday, August 10th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.08.
Several hedge funds have recently modified their holdings of GLYC. California Public Employees Retirement System bought a new stake in GlycoMimetics during the first quarter worth approximately $166,000. Metropolitan Life Insurance Co. NY bought a new stake in GlycoMimetics during the second quarter worth approximately $189,000. Voya Investment Management LLC bought a new stake in GlycoMimetics during the second quarter worth approximately $205,000. TD Asset Management Inc. increased its stake in GlycoMimetics by 22.5% during the second quarter. TD Asset Management Inc. now owns 69,172 shares of the biotechnology company’s stock worth $1,116,000 after acquiring an additional 12,700 shares during the last quarter. Finally, Northern Trust Corp increased its stake in GlycoMimetics by 21.3% during the first quarter. Northern Trust Corp now owns 84,511 shares of the biotechnology company’s stock worth $1,372,000 after acquiring an additional 14,868 shares during the last quarter.
Shares of GLYC stock traded up $0.01 during trading hours on Thursday, hitting $13.96. The stock had a trading volume of 4,267 shares, compared to its average volume of 568,549. GlycoMimetics has a one year low of $10.25 and a one year high of $26.05. The stock has a market capitalization of $620.03 million, a price-to-earnings ratio of -12.35 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.
Recommended Story: Fundamental Analysis and Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GlycoMimetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlycoMimetics and related companies with MarketBeat.com's FREE daily email newsletter.