FY2024 Earnings Forecast for Geron Issued By Leerink Partnrs

Geron Co. (NASDAQ:GERN) – Equities researchers at Leerink Partnrs decreased their FY2024 earnings per share (EPS) estimates for shares of Geron in a report released on Monday, January 6th. Leerink Partnrs analyst F. Khurshid now expects that the biopharmaceutical company will earn ($0.29) per share for the year, down from their prior estimate of ($0.28). The consensus estimate for Geron’s current full-year earnings is ($0.25) per share. Leerink Partnrs also issued estimates for Geron’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.03) EPS, FY2025 earnings at $0.00 EPS and FY2026 earnings at $0.19 EPS.

GERN has been the topic of a number of other research reports. Scotiabank began coverage on shares of Geron in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 target price on the stock. Barclays raised Geron to a “strong-buy” rating in a research note on Friday, November 29th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Geron in a research note on Friday, December 13th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Geron in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.15.

Geron Price Performance

Shares of GERN opened at $3.42 on Wednesday. The firm has a market capitalization of $2.07 billion, a PE ratio of -10.69 and a beta of 0.55. The company’s 50-day moving average is $3.83 and its 200-day moving average is $4.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. Geron has a fifty-two week low of $1.64 and a fifty-two week high of $5.34.

Geron (NASDAQ:GERN) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The firm had revenue of $28.27 million for the quarter, compared to analysts’ expectations of $18.97 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The company’s revenue for the quarter was up 17138.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in shares of Geron by 1,200.0% during the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 6,000 shares during the last quarter. Readystate Asset Management LP purchased a new stake in shares of Geron during the third quarter valued at approximately $58,000. Rovin Capital UT ADV purchased a new position in shares of Geron in the third quarter worth $62,000. CIBC Asset Management Inc boosted its stake in shares of Geron by 32.7% in the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 3,805 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Geron during the 3rd quarter valued at about $67,000. Institutional investors own 73.71% of the company’s stock.

Geron Company Profile

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.