Shares of Geron Co. (NASDAQ:GERN – Get Free Report) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.05.
Several analysts recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Geron in a report on Thursday, August 8th. HC Wainwright started coverage on Geron in a research note on Tuesday, November 5th. They issued a “buy” rating and a $8.00 price objective on the stock. Scotiabank began coverage on Geron in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 target price for the company. StockNews.com raised Geron to a “sell” rating in a research report on Monday, August 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Geron in a research note on Friday, August 9th.
Check Out Our Latest Research Report on GERN
Geron Stock Down 3.1 %
Geron (NASDAQ:GERN – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. Geron had a negative return on equity of 67.10% and a negative net margin of 682.48%. The company had revenue of $28.27 million during the quarter, compared to the consensus estimate of $18.97 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The firm’s revenue was up 17138.4% on a year-over-year basis. Sell-side analysts anticipate that Geron will post -0.34 EPS for the current fiscal year.
Institutional Trading of Geron
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Darwin Global Management Ltd. acquired a new stake in Geron during the second quarter valued at approximately $106,185,000. Farallon Capital Management LLC lifted its position in shares of Geron by 124.6% during the 2nd quarter. Farallon Capital Management LLC now owns 16,837,000 shares of the biopharmaceutical company’s stock worth $71,389,000 after buying an additional 9,342,000 shares during the period. First Turn Management LLC acquired a new stake in Geron in the 3rd quarter valued at $14,187,000. Affinity Asset Advisors LLC bought a new stake in Geron in the first quarter valued at $8,250,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Geron by 999.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock worth $6,815,000 after acquiring an additional 1,877,184 shares in the last quarter. Institutional investors own 73.71% of the company’s stock.
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.
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