Geron’s (GERN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Geron (NASDAQ:GERN) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $5.00 price target on the biopharmaceutical company’s stock.

GERN has been the topic of a number of other research reports. The Goldman Sachs Group increased their target price on Geron from $4.00 to $5.00 and gave the stock a buy rating in a report on Friday, March 15th. Robert W. Baird downgraded shares of Geron from an outperform rating to a neutral rating and set a $4.50 price objective for the company. in a report on Tuesday. Wedbush reissued an outperform rating and set a $6.00 target price on shares of Geron in a report on Wednesday, April 10th. Finally, TD Cowen began coverage on shares of Geron in a report on Monday, April 29th. They issued a buy rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $6.10.

Geron Stock Down 0.5 %

Shares of GERN stock traded down $0.02 during mid-day trading on Thursday, reaching $3.93. 8,439,272 shares of the company were exchanged, compared to its average volume of 11,742,055. The company has a market capitalization of $2.15 billion, a P/E ratio of -11.23 and a beta of 0.55. The business’s 50 day simple moving average is $3.10 and its 200 day simple moving average is $2.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.16 and a current ratio of 3.16. Geron has a fifty-two week low of $1.64 and a fifty-two week high of $4.30.

Geron (NASDAQ:GERN) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.06 million. Geron had a negative net margin of 38,730.00% and a negative return on equity of 72.19%. The firm’s revenue for the quarter was down 77.7% compared to the same quarter last year. During the same period last year, the business earned ($0.10) EPS. Research analysts predict that Geron will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Geron

Several large investors have recently added to or reduced their stakes in GERN. Pathstone Family Office LLC bought a new position in shares of Geron during the third quarter worth about $26,000. China Universal Asset Management Co. Ltd. grew its position in Geron by 101.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,426 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 6,757 shares during the last quarter. Federated Hermes Inc. bought a new position in Geron in the 3rd quarter worth about $29,000. SG Americas Securities LLC acquired a new stake in shares of Geron in the third quarter valued at approximately $40,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Geron during the fourth quarter valued at approximately $58,000. 73.71% of the stock is 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.