Geron’s (GERN) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Geron (NASDAQ:GERN) in a report published on Friday, MarketBeat Ratings reports. They currently have a $7.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on GERN. TD Cowen began coverage on Geron in a report on Monday, April 29th. They issued a buy rating and a $10.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Geron from $4.00 to $5.00 and gave the company a buy rating in a research report on Friday, March 15th. Robert W. Baird lowered shares of Geron from an outperform rating to a neutral rating and set a $4.50 target price on the stock. in a research note on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a buy rating and set a $5.00 price objective on shares of Geron in a report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $6.50.

Geron Stock Performance

Shares of GERN stock opened at $4.59 on Friday. The business’s 50 day simple moving average is $3.65 and its 200 day simple moving average is $2.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.67 and a quick ratio of 3.67. Geron has a one year low of $1.64 and a one year high of $5.15. The stock has a market capitalization of $2.72 billion, a PE ratio of -13.11 and a beta of 0.43.

Geron (NASDAQ:GERN) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.15 million. Geron had a negative return on equity of 68.16% and a negative net margin of 38,730.00%. As a group, research analysts forecast that Geron will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Geron

In other Geron news, CEO John A. Scarlett sold 600,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $4.00, for a total value of $2,400,000.00. Following the transaction, the chief executive officer now directly owns 600,000 shares of the company’s stock, valued at $2,400,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of Geron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pathstone Family Office LLC purchased a new position in shares of Geron during the third quarter valued at approximately $26,000. Federated Hermes Inc. purchased a new position in Geron during the 3rd quarter worth $29,000. Crewe Advisors LLC grew its stake in shares of Geron by 870.0% in the 1st quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 8,700 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Geron in the first quarter valued at about $34,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Geron during the fourth quarter valued at about $58,000. 73.71% of the stock is owned by institutional investors.

About Geron

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.