Geron (NASDAQ:GERN) Now Covered by HC Wainwright

HC Wainwright assumed coverage on shares of Geron (NASDAQ:GERN) in a research note published on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $8.00 target price on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Geron’s Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.36) EPS, FY2025 earnings at ($0.23) EPS, FY2026 earnings at ($0.13) EPS, FY2027 earnings at $0.05 EPS and FY2028 earnings at $0.35 EPS.

A number of other brokerages have also issued reports on GERN. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Geron in a research note on Friday, August 9th. Scotiabank assumed coverage on Geron in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $6.00 target price for the company. Leerink Partners started coverage on Geron in a research note on Monday, September 9th. They set an “outperform” rating and a $7.00 price target on the stock. StockNews.com upgraded Geron to a “sell” rating in a research note on Monday, August 5th. Finally, Leerink Partnrs upgraded Geron to a “strong-buy” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.05.

Geron Trading Up 0.5 %

Shares of NASDAQ:GERN opened at $4.29 on Tuesday. The business’s 50-day moving average is $4.32 and its 200 day moving average is $4.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.61 and a quick ratio of 3.60. Geron has a 1 year low of $1.64 and a 1 year high of $5.34. The firm has a market capitalization of $2.59 billion, a P/E ratio of -11.92 and a beta of 0.52.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.34 million. Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. The company’s revenue for the quarter was up 2941.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. On average, research analysts predict that Geron will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Geron

Large investors have recently made changes to their positions in the company. First Turn Management LLC acquired a new stake in Geron during the third quarter valued at $14,187,000. Empowered Funds LLC acquired a new stake in shares of Geron during the 3rd quarter valued at about $67,000. Los Angeles Capital Management LLC acquired a new stake in shares of Geron during the 3rd quarter valued at about $178,000. Rovin Capital UT ADV purchased a new position in shares of Geron in the 3rd quarter valued at about $62,000. Finally, US Bancorp DE raised its holdings in Geron by 68.4% in the 3rd quarter. US Bancorp DE now owns 18,296 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 7,429 shares during the period. 73.71% of the stock is currently 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.