GlycoMimetics (NASDAQ:GLYC) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.08, Fidelity Earnings reports.
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NASDAQ:GLYC traded up $0.28 during mid-day trading on Friday, reaching $6.24. 283,200 shares of the company’s stock traded hands, compared to its average volume of 444,051. The firm has a market capitalization of $252.25 million, a price-to-earnings ratio of -5.29 and a beta of 2.74. GlycoMimetics has a 12-month low of $2.64 and a 12-month high of $14.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 17.54 and a quick ratio of 17.54. The company has a 50 day moving average price of $4.82 and a 200-day moving average price of $8.09.
In other GlycoMimetics news, major shareholder Bvf Partners L. P/Il acquired 1,668,746 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of $3.18 per share, with a total value of $5,306,612.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel M. Junius acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $3.18 per share, for a total transaction of $31,800.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at approximately $57,240. The disclosure for this purchase can be found here. Corporate insiders own 26.80% of the company’s stock.
Several research firms have recently commented on GLYC. ValuEngine downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a report on Wednesday. Piper Jaffray Companies restated a “neutral” rating and set a $5.00 price target (down previously from $6.00) on shares of GlycoMimetics in a report on Thursday. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of GlycoMimetics in a report on Friday. Jefferies Financial Group downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, SunTrust Banks downgraded GlycoMimetics from a “buy” rating to a “hold” rating and reduced their price target for the company from $23.00 to $5.00 in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.25.
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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