Q3 2024 Earnings Forecast for Geron Co. (NASDAQ:GERN) Issued By Wedbush

Geron Co. (NASDAQ:GERN) – Analysts at Wedbush increased their Q3 2024 EPS estimates for Geron in a research note issued to investors on Thursday, August 8th. Wedbush analyst R. Driscoll now expects that the biopharmaceutical company will post earnings of ($0.08) per share for the quarter, up from their previous forecast of ($0.09). Wedbush has a “Outperform” rating and a $8.00 price objective on the stock. The consensus estimate for Geron’s current full-year earnings is ($0.35) per share. Wedbush also issued estimates for Geron’s Q4 2024 earnings at ($0.06) EPS, FY2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.10) EPS, FY2026 earnings at $0.13 EPS and FY2027 earnings at $0.42 EPS.

A number of other analysts have also recently weighed in on GERN. StockNews.com upgraded shares of Geron to a “sell” rating in a research note on Monday, August 5th. TD Cowen initiated coverage on shares of Geron in a research note on Monday, April 29th. They issued a “buy” rating and a $10.00 price objective for the company. Robert W. Baird cut shares of Geron from an “outperform” rating to a “neutral” rating and set a $4.50 price objective for the company. in a research note on Tuesday, April 30th. Stifel Nicolaus boosted their price objective on shares of Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $6.00 target price on shares of Geron in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.07.

Geron Price Performance

Shares of Geron stock opened at $4.57 on Monday. The firm has a fifty day simple moving average of $4.59 and a 200-day simple moving average of $3.56. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 0.03. Geron has a 1-year low of $1.64 and a 1-year high of $5.34. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -13.06 and a beta of 0.48.

Geron (NASDAQ:GERN) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $0.88 million during the quarter, compared to the consensus estimate of $0.34 million. Geron had a negative net margin of 38,730.00% and a negative return on equity of 68.16%. The company’s revenue for the quarter was up 2941.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share.

Hedge Funds Weigh In On Geron

A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its stake in shares of Geron by 55.1% in the 2nd quarter. Sei Investments Co. now owns 153,678 shares of the biopharmaceutical company’s stock valued at $652,000 after buying an additional 54,609 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Geron by 29.5% in the 2nd quarter. Hsbc Holdings PLC now owns 69,405 shares of the biopharmaceutical company’s stock valued at $297,000 after buying an additional 15,829 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Geron in the 2nd quarter worth about $3,315,000. Arizona State Retirement System grew its holdings in shares of Geron by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 115,400 shares of the biopharmaceutical company’s stock worth $489,000 after purchasing an additional 3,465 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Geron by 135.1% in the 2nd quarter. Victory Capital Management Inc. now owns 138,555 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 79,621 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Insider Activity at Geron

In related news, EVP Faye Feller sold 287,900 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $4.63, for a total transaction of $1,332,977.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Faye Feller sold 287,900 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $4.63, for a total value of $1,332,977.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John A. Scarlett sold 600,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $4.00, for a total transaction of $2,400,000.00. Following the completion of the transaction, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $2,400,000. The disclosure for this sale can be found here. Insiders sold a total of 1,562,248 shares of company stock worth $6,808,004 in the last ninety days. 3.10% of the stock is currently owned by insiders.

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.