Zacks Investment Research upgraded shares of Geron (NASDAQ:GERN) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $4.50 price target on the biopharmaceutical company’s stock.
According to Zacks, “Geron’s agreement with J&J for its lead pipeline candidate – imetelstat – is a positive, which provides it a strong partner as well as funds. Imetelstat is being developed for the treatment of myelofibrosis and myelodysplastic syndromes. J&J had announced unfavorable findings in 2016 from internal reviews of 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. The FDA had also granted fast track designation to imetelstat. However, Geron's dependence on a single pipeline candidate, imetelstat, raises concerns. Moreover, Geron’s shares have outperformed the industry so far this year. Estimates have remained stable ahead of the company’s Q1 earnings release. The company has a mixed record of earnings surprises in recent quarters.”
Several other brokerages also recently commented on GERN. BidaskClub raised shares of Geron from a buy rating to a strong-buy rating in a research note on Saturday, March 17th. ValuEngine raised shares of Geron from a sell rating to a hold rating in a research note on Wednesday, March 14th. Piper Jaffray reaffirmed a buy rating and issued a $7.00 target price on shares of Geron in a research note on Monday, March 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Geron from $2.50 to $4.00 and gave the company a hold rating in a research report on Sunday, March 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $5.17.
Shares of NASDAQ GERN opened at $3.79 on Wednesday. Geron has a 52 week low of $1.74 and a 52 week high of $6.68. The firm has a market capitalization of $592.81, a P/E ratio of -21.06 and a beta of 2.29.
Geron (NASDAQ:GERN) last issued its earnings results on Friday, March 16th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Geron had a negative return on equity of 25.25% and a negative net margin of 2,621.22%. The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.41 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was up 103.2% compared to the same quarter last year. analysts anticipate that Geron will post 0.01 EPS for the current year.
A number of institutional investors have recently modified their holdings of GERN. Russell Investments Group Ltd. increased its position in Geron by 783.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 363,990 shares of the biopharmaceutical company’s stock valued at $794,000 after purchasing an additional 322,810 shares during the period. Creative Planning increased its position in Geron by 69.8% during the 4th quarter. Creative Planning now owns 308,523 shares of the biopharmaceutical company’s stock valued at $555,000 after purchasing an additional 126,810 shares during the period. Virtus Fund Advisers LLC purchased a new position in Geron during the 4th quarter valued at $314,000. Geode Capital Management LLC increased its position in Geron by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,344,758 shares of the biopharmaceutical company’s stock valued at $2,420,000 after purchasing an additional 25,058 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Geron during the 4th quarter valued at $481,000. 36.89% of the stock is currently owned by institutional investors and hedge funds.
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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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