Geron Corporation (GERN) Earns Hold Rating from Needham & Company LLC
A number of other research analysts have also recently issued reports on GERN. Stifel Nicolaus reissued a hold rating and set a $2.50 price target on shares of Geron Corporation in a research report on Friday. BidaskClub cut shares of Geron Corporation from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research raised shares of Geron Corporation from a hold rating to a buy rating and set a $2.50 price target for the company in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Geron Corporation presently has an average rating of Hold and a consensus price target of $3.75.
Shares of Geron Corporation (NASDAQ GERN) opened at $2.12 on Friday.
Geron Corporation (NASDAQ:GERN) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.40 million. Geron Corporation had a negative net margin of 2,992.67% and a negative return on equity of 25.14%. The company’s revenue for the quarter was down 96.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. research analysts anticipate that Geron Corporation will post -0.17 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its position in Geron Corporation by 42.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 82,426 shares of the biopharmaceutical company’s stock valued at $180,000 after acquiring an additional 24,370 shares during the period. IHT Wealth Management LLC purchased a new position in Geron Corporation during the 2nd quarter valued at about $122,000. State Street Corp lifted its position in Geron Corporation by 9.8% during the 2nd quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock valued at $14,205,000 after acquiring an additional 459,700 shares during the period. Zacks Investment Management purchased a new position in Geron Corporation during the 2nd quarter valued at about $148,000. Finally, Voya Investment Management LLC lifted its position in Geron Corporation by 12.0% during the 2nd quarter. Voya Investment Management LLC now owns 79,449 shares of the biopharmaceutical company’s stock valued at $220,000 after acquiring an additional 8,534 shares during the period. 38.79% of the stock is owned by institutional investors.
About Geron Corporation
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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