GlycoMimetics (NASDAQ:GLYC) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS
GlycoMimetics (NASDAQ:GLYC) released its quarterly earnings data on Friday. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05, MarketWatch Earnings reports.
Shares of NASDAQ:GLYC traded down $0.21 on Friday, hitting $3.94. 664,698 shares of the company were exchanged, compared to its average volume of 625,206. The company’s 50 day moving average price is $3.79 and its two-hundred day moving average price is $3.40. GlycoMimetics has a one year low of $1.82 and a one year high of $9.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 14.78 and a current ratio of 14.78. The firm has a market capitalization of $171.72 million, a price-to-earnings ratio of -3.28 and a beta of 2.55.
Several equities research analysts recently issued reports on the stock. HC Wainwright reduced their price objective on shares of GlycoMimetics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday. Zacks Investment Research downgraded shares of GlycoMimetics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. GlycoMimetics currently has an average rating of “Buy” and a consensus price target of $7.40.
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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