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Why GlycoMimetics (GLYC) Could Be Positioned for a Surge?

Zacks Equity Research

GlycoMimetics, Inc. (GLYC) is a Medical Drugs company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on GLYC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that GlycoMimetics could be a solid choice for investors.
Current Quarter Estimates for GLYC
In the past 30 days, 1 estimate has gone higher for GlycoMimetics with no downward revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 33 cents a share 30 days ago, to a loss of 28 cents per share today, a move of 15.0%.
Current Year Estimates for GLYC
Meanwhile, GlycoMimetics’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 8 cents per share 30 days ago to 15 cents per share today, an increase of 88.0%.
Bottom Line
The stock has also started to move higher lately, adding 10.0% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this  Zacks Rank #3 (Hold) stock to profit in the near future.
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GLYCOMIMETICS INC (GLYC): Free Stock Analysis Report

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