Geron (NASDAQ:GERN) Earns Buy Rating from Analysts at HC Wainwright

by · The Markets Daily

HC Wainwright initiated coverage on shares of Geron (NASDAQ:GERN – Free Report) in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage 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 research firms have also recently weighed in on GERN. Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Geron in a research report on Thursday, August 8th. Leerink Partnrs raised Geron to a “strong-buy” rating in a research note on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Geron in a research note on Friday, August 9th. Leerink Partners started coverage on Geron in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price on the stock. Finally, StockNews.com upgraded Geron to a “sell” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.05.

Read Our Latest Report on GERN

Geron Stock Performance

Shares of NASDAQ:GERN opened at $4.29 on Tuesday. The firm has a fifty day simple moving average of $4.32 and a two-hundred day simple moving average of $4.30. The company has a quick ratio of 3.60, a current ratio of 3.61 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.59 billion, a P/E ratio of -11.92 and a beta of 0.52. Geron has a 52 week low of $1.64 and a 52 week high of $5.34.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Darwin Global Management Ltd. bought a new position in shares of Geron during the second quarter valued at approximately $106,185,000. Farallon Capital Management LLC increased its holdings in shares of Geron by 124.6% in the 2nd quarter. Farallon Capital Management LLC now owns 16,837,000 shares of the biopharmaceutical company’s stock valued at $71,389,000 after acquiring an additional 9,342,000 shares during the period. First Turn Management LLC bought a new position in shares of Geron in the 3rd quarter worth $14,187,000. Affinity Asset Advisors LLC purchased a new stake in shares of Geron during the 1st quarter worth $8,250,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Geron by 999.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock valued at $6,815,000 after purchasing an additional 1,877,184 shares in the last quarter. 73.71% of the stock is currently owned by institutional investors.

Geron Company Profile

(Get Free Report)

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.

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