Geron (NASDAQ:GERN) Given New $7.00 Price Target at Needham & Company LLC

Geron (NASDAQ:GERN) had its target price increased by Needham & Company LLC from $6.00 to $7.00 in a report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on GERN. Scotiabank assumed coverage on Geron in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Geron in a research report on Tuesday, December 10th. Finally, Barclays upgraded Geron to a “strong-buy” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

Geron Trading Down 6.0 %

Shares of NASDAQ:GERN opened at $2.98 on Monday. Geron has a 52-week low of $1.64 and a 52-week high of $5.34. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -9.31 and a beta of 0.55. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $3.81 and a 200-day moving average price of $4.22.

Geron (NASDAQ:GERN) last announced its quarterly earnings data 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 67.53% and a negative net margin of 682.48%. The firm had revenue of $28.27 million during the quarter, compared to analysts’ expectations of $18.97 million. During the same period last year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 17138.4% compared to the same quarter last year. Equities analysts predict that Geron will post -0.25 EPS for the current year.

Institutional Trading of Geron

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of Geron by 1,200.0% in the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 6,000 shares during the last quarter. Readystate Asset Management LP acquired a new stake in shares of Geron in the third quarter worth approximately $58,000. Rovin Capital UT ADV acquired a new stake in shares of Geron in the third quarter worth approximately $62,000. Empowered Funds LLC acquired a new stake in shares of Geron in the third quarter worth approximately $67,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Geron in the third quarter worth approximately $68,000. 73.71% of the stock is owned by institutional investors and hedge funds.

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.