Geron Corporation (GERN) Upgraded to Buy by Zacks Investment Research
Geron Corporation (NASDAQ:GERN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $2.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.12% from the company’s previous close.
According to Zacks, “Geron is optimistic about the agreement with J&J for its lead pipeline candidate – imetelstat – which provides it a strong partner as well as funds. Imetelstat is being developed for the treatment of myelofibrosis and myelodysplastic syndromes. In 2016, J&J announced unfavorable findings from the planned internal reviews of initial data from the two studies of imetelstat, IMbark and IMerge. However, in April 2017, Geron informed that Janssen has completed the second internal data review of the two studies and as a result of the review, both trials are continuing unmodified. However, Geron's dependence on a single pipeline candidate, imetelstat, raises concerns. Moreover, Geron’s shares underperformed the industry so far this year.”
A number of other brokerages have also weighed in on GERN. BidaskClub lowered Geron Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. FBR & Co reaffirmed a “buy” rating on shares of Geron Corporation in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.75.
Shares of Geron Corporation (GERN) traded down 0.90% during mid-day trading on Tuesday, hitting $2.19. The company had a trading volume of 308,927 shares. Geron Corporation has a 52-week low of $1.81 and a 52-week high of $3.15. The stock’s market cap is $348.68 million. The stock’s 50-day moving average is $2.12 and its 200-day moving average is $2.48.
Geron Corporation (NASDAQ:GERN) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative return on equity of 21.30% and a negative net margin of 433.72%. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.38 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. Equities analysts forecast that Geron Corporation will post ($0.18) earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Geron Corporation by 1.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 58,056 shares of the biopharmaceutical company’s stock valued at $161,000 after buying an additional 1,000 shares during the period. IHT Wealth Management LLC bought a new stake in shares of Geron Corporation during the second quarter worth $122,000. State Street Corp raised its position in shares of Geron Corporation by 9.8% during the second quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock worth $14,205,000 after acquiring an additional 459,700 shares during the last quarter. Zacks Investment Management bought a new stake in shares of Geron Corporation during the second quarter worth $148,000. Finally, Voya Investment Management LLC raised its position in shares of Geron Corporation by 12.0% during the second quarter. Voya Investment Management LLC now owns 79,449 shares of the biopharmaceutical company’s stock worth $220,000 after acquiring an additional 8,534 shares during the last quarter. Hedge funds and other institutional investors own 38.79% of the company’s stock.
Geron Corporation Company Profile
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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