
GlycoMimetics (GLYC) Stock Forecast & Price Target
GlycoMimetics (GLYC) Analyst Ratings
Bulls say
GlycoMimetics Inc. is demonstrating a positive outlook, as indicated by an improved fiscal year 2024 earnings per share estimate of ($0.57) compared to the prior estimate of ($0.61), reflecting a potential for reduced losses. The company's progress in the Phase 1a study of GMI-1687 shows encouraging initial safety and pharmacokinetic results, with 39% of participants displaying a clinical response and 72% showing a reduction in bone marrow blasts, suggesting the efficacy of their glycomimetic drugs. Additionally, the FDA's clearance for a protocol amendment to allow time-based analysis of overall survival further highlights the company's strategic adjustments to enhance clinical outcomes, boosting investor confidence in their ongoing research and development efforts.
Bears say
GlycoMimetics Inc. experienced higher-than-expected general and administrative expenses of $5.1 million in the first quarter of 2024, exceeding the estimate of $4.4 million, which raises concerns regarding cost management. Research and development expenses also increased to $6.0 million, surpassing the previously established estimate of $5.3 million, indicating potential inefficiencies in its operational expenditures. Additionally, the lowered earnings per share estimate to ($0.17) from ($0.14) reflects a deteriorating financial outlook, prompting a downgrade in the stock's rating and the removal of the price target due to uncertainties regarding the company's future prospects.
This aggregate rating is based on analysts' research of GlycoMimetics and is not a guaranteed prediction by Public.com or investment advice.
GlycoMimetics (GLYC) Analyst Forecast & Price Prediction
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