Geron Corporation (GERN) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Geron Corporation (NASDAQ:GERN) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $2.50 price target on the biopharmaceutical company’s stock.
According to Zacks, “Geron is optimistic about the agreement with J&J for its lead pipeline candidate – imetelstat – which provides it a strong partner as well as funds. Imetelstat is being developed for the treatment of myelofibrosis and myelodysplastic syndromes. In 2016, J&J announced unfavorable findings from the planned internal reviews of initial data from the two studies of imetelstat, IMbark and IMerge. However, in April 2017, Geron informed that Janssen has completed the second internal data review of the two studies and as a result of the review, both trials are continuing unmodified. However, Geron's dependence on a single pipeline candidate, imetelstat, raises concerns. Moreover, Geron’s shares underperformed the industry so far this year.”
Several other equities research analysts have also recently weighed in on GERN. FBR & Co reaffirmed a buy rating on shares of Geron Corporation in a research report on Tuesday, July 4th. BidaskClub downgraded shares of Geron Corporation from a hold rating to a sell rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $3.75.
Shares of Geron Corporation (GERN) traded up 0.91% on Tuesday, reaching $2.22. 860,519 shares of the company were exchanged. Geron Corporation has a 52 week low of $1.81 and a 52 week high of $3.15. The company’s 50-day moving average is $2.13 and its 200-day moving average is $2.48. The company’s market capitalization is $353.45 million.
Geron Corporation (NASDAQ:GERN) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative return on equity of 21.30% and a negative net margin of 433.72%. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.38 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was down 19.0% on a year-over-year basis. On average, equities analysts expect that Geron Corporation will post ($0.18) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. boosted its holdings in shares of Geron Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 92,964 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 6,140 shares in the last quarter. Cutler Group LP purchased a new stake in Geron Corporation during the second quarter valued at approximately $302,000. Tudor Investment Corp ET AL lifted its position in Geron Corporation by 12.1% during the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 5,669 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Geron Corporation by 31.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,056 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 13,500 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Geron Corporation by 11.0% during the first quarter. Geode Capital Management LLC now owns 1,212,214 shares of the biopharmaceutical company’s stock valued at $2,751,000 after acquiring an additional 120,222 shares during the last quarter. 38.79% of the stock is owned by institutional investors and hedge funds.
About Geron Corporation
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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