Geron Corporation (NASDAQ:GERN) Stock Has Consensus Price Target of $4.00

Shares of Geron Corporation (NASDAQ:GERN) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One research 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 average 12-month price target among brokerages that have covered the stock in the last year is $4.00.

GERN has been the topic of a number of research reports. Weiss Ratings lowered Geron from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. Wedbush reissued an “outperform” rating on shares of Geron in a report on Wednesday.

Institutional Investors Weigh In On Geron

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Geron in the 2nd quarter valued at $62,868,000. Eversept Partners LP increased its stake in Geron by 6.7% in the first quarter. Eversept Partners LP now owns 18,834,883 shares of the biopharmaceutical company’s stock valued at $28,064,000 after acquiring an additional 1,174,900 shares during the last quarter. Nantahala Capital Management LLC bought a new position in Geron in the second quarter valued at approximately $15,648,000. Pale Fire Capital SE boosted its holdings in shares of Geron by 8.6% in the 2nd quarter. Pale Fire Capital SE now owns 5,307,204 shares of the biopharmaceutical company’s stock valued at $6,793,000 after purchasing an additional 418,900 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Geron by 68.9% in the 1st quarter. Bank of America Corp DE now owns 4,556,278 shares of the biopharmaceutical company’s stock valued at $6,789,000 after purchasing an additional 1,858,268 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Geron Trading Down 20.8%

Shares of NASDAQ:GERN traded down $0.24 during trading on Wednesday, reaching $0.91. 45,809,824 shares of the stock were exchanged, compared to its average volume of 13,613,758. Geron has a 12 month low of $0.84 and a 12 month high of $2.01. The firm has a market cap of $585.29 million, a PE ratio of -8.14 and a beta of 0.61. The stock has a 50-day moving average price of $1.33 and a 200-day moving average price of $1.43.

Geron (NASDAQ:GERN) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $57.48 million during the quarter, compared to the consensus estimate of $55.30 million. On average, sell-side analysts expect that Geron will post -0.05 earnings per share for the current fiscal year.

About Geron

Geron Corporation (NASDAQ: GERN) is a biopharmaceutical company focused on developing and commercializing treatments for blood cancers and other serious hematologic diseases. Its lead product, Rytelo (imetelstat), is a telomerase inhibitor designed to target malignant blood-forming cells.

Rytelo is approved in the United States for adults with lower-risk myelodysplastic syndromes who have transfusion-dependent anemia requiring regular red blood cell transfusions and have not responded adequately to, or are not eligible for, erythropoiesis-stimulating agents.