Zacks: Brokerages Expect GlycoMimetics, Inc. (NASDAQ:GLYC) to Announce -$0.29 EPS

Equities research analysts expect that GlycoMimetics, Inc. (NASDAQ:GLYCGet Rating) will report earnings of ($0.29) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for GlycoMimetics’ earnings, with estimates ranging from ($0.29) to ($0.28). GlycoMimetics posted earnings of ($0.28) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 3.6%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that GlycoMimetics will report full year earnings of ($1.26) per share for the current financial year, with EPS estimates ranging from ($1.49) to ($1.08). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.00) per share, with EPS estimates ranging from ($1.35) to ($0.50). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for GlycoMimetics.

GlycoMimetics (NASDAQ:GLYCGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The biotechnology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. During the same quarter last year, the firm posted ($0.28) EPS.

Several research firms recently weighed in on GLYC. StockNews.com began coverage on shares of GlycoMimetics in a research note on Wednesday. They set a “hold” rating on the stock. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $0.75 price objective on the stock in a research note on Tuesday, May 3rd.

GlycoMimetics stock opened at $0.60 on Tuesday. The company’s 50 day simple moving average is $0.89 and its 200 day simple moving average is $1.22. GlycoMimetics has a fifty-two week low of $0.54 and a fifty-two week high of $2.83. The firm has a market capitalization of $31.44 million, a price-to-earnings ratio of -0.49 and a beta of 1.96.

A number of institutional investors and hedge funds have recently made changes to their positions in GLYC. Goldman Sachs Group Inc. lifted its stake in GlycoMimetics by 46.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 38,533 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 12,158 shares in the last quarter. Eversept Partners LP bought a new position in GlycoMimetics in the fourth quarter valued at approximately $144,000. Morgan Stanley lifted its stake in GlycoMimetics by 52.9% in the third quarter. Morgan Stanley now owns 67,924 shares of the biotechnology company’s stock valued at $148,000 after buying an additional 23,510 shares in the last quarter. GSA Capital Partners LLP bought a new position in GlycoMimetics in the fourth quarter valued at approximately $210,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in GlycoMimetics by 5.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,298 shares of the biotechnology company’s stock valued at $246,000 after buying an additional 5,856 shares in the last quarter. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile (Get Rating)

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. It is developing uproleselan, an E-selectin inhibitor, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as in phase 3 trial to treat relapsed/refractory AML.

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