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

HC Wainwright initiated coverage on shares of Geron (NASDAQ:GERN) in a research report released on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $8.00 price objective 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 analysts have also recently commented on the stock. Leerink Partners assumed coverage on shares of Geron in a research note on Monday, September 9th. They set an “outperform” rating and a $7.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Geron in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 target price on shares of Geron in a report on Friday, August 9th. StockNews.com raised 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 report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.05.

Geron Price Performance

Shares of Geron stock opened at $4.25 on Tuesday. The firm has a market cap of $2.56 billion, a PE ratio of -13.28 and a beta of 0.52. The business has a 50-day moving average price of $4.31 and a 200 day moving average price 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. Geron has a twelve month low of $1.64 and a twelve month high of $5.34.

Geron (NASDAQ:GERN) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.05. Geron had a negative return on equity of 73.79% and a negative net margin of 15,990.68%. The business had revenue of $28.27 million during the quarter, compared to the consensus estimate of $18.97 million. During the same period in the prior year, the company posted ($0.08) EPS. The business’s quarterly revenue was up 17138.4% on a year-over-year basis. Sell-side analysts predict that Geron will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Geron

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System grew its stake in shares of Geron by 3.1% during 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 period. Values First Advisors Inc. grew its position in Geron by 13.6% during the third quarter. Values First Advisors Inc. now owns 30,674 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 3,668 shares during the period. CIBC Asset Management Inc grew its position in Geron by 32.7% during the second quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 3,805 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Geron by 23.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,802 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 4,094 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Geron by 32.6% during the 3rd quarter. SG Americas Securities LLC now owns 22,630 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 5,559 shares during the period. Institutional investors and hedge funds 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.