Geron (NASDAQ:GERN) Trading 4.4% Higher – Here’s What Happened

Geron Co. (NASDAQ:GERN)’s stock price was up 4.4% on Tuesday . The company traded as high as $3.57 and last traded at $3.55. Approximately 4,794,582 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 10,397,970 shares. The stock had previously closed at $3.40.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GERN shares. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a report on Monday, September 9th. Leerink Partners initiated coverage on Geron in a report on Monday, September 9th. They set an “outperform” rating and a $7.00 price target on the stock. Scotiabank started coverage on Geron in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $6.00 price objective for the company. Barclays raised Geron to a “strong-buy” rating in a report on Friday, November 29th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Geron in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.15.

Geron Trading Up 4.1 %

The stock has a market capitalization of $2.14 billion, a PE ratio of -11.06 and a beta of 0.51. The stock’s 50 day moving average price is $3.92 and its 200-day moving average price is $4.29. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04.

Geron (NASDAQ:GERN) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $28.27 million for the quarter, compared to analysts’ expectations of $18.97 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The business’s quarterly revenue was up 17138.4% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts expect that Geron Co. will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Geron

Hedge funds have recently modified their holdings of the stock. Exome Asset Management LLC bought a new stake in Geron in the 3rd quarter valued at $4,109,000. Alternative Investment Advisors LLC. grew its position in shares of Geron by 13.3% during the third quarter. Alternative Investment Advisors LLC. now owns 22,209 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 2,612 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Geron by 461.4% in the third quarter. Franklin Resources Inc. now owns 79,923 shares of the biopharmaceutical company’s stock worth $331,000 after purchasing an additional 65,687 shares during the last quarter. World Investment Advisors LLC lifted its position in shares of Geron by 10,151.4% in the third quarter. World Investment Advisors LLC now owns 1,029,553 shares of the biopharmaceutical company’s stock worth $4,674,000 after buying an additional 1,019,510 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Geron by 1.8% during the third quarter. Geode Capital Management LLC now owns 13,067,999 shares of the biopharmaceutical company’s stock valued at $59,339,000 after buying an additional 231,178 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Geron Company Profile

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.