Geron (NASDAQ:GERN) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Geron (NASDAQ:GERN) in a research report report published on Friday morning, MarketBeat Ratings reports. They currently have a $6.00 target price on the biopharmaceutical company’s stock.

GERN has been the topic of a number of other research reports. StockNews.com raised Geron to a sell rating in a report on Monday, August 5th. Wedbush reaffirmed an outperform rating and set a $8.00 target price on shares of Geron in a research report on Thursday, August 8th. Barclays initiated coverage on shares of Geron in a report on Monday, June 10th. They issued an overweight rating and a $9.00 price target for the company. TD Cowen initiated coverage on shares of Geron in a report on Monday, April 29th. They set a buy rating and a $10.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on shares of Geron from $6.00 to $7.00 and gave the company a buy rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $7.07.

Geron Trading Up 0.6 %

NASDAQ:GERN opened at $4.73 on Friday. The company’s 50 day moving average is $4.58 and its 200-day moving average is $3.54. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 0.03. Geron has a 12 month low of $1.64 and a 12 month high of $5.34. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -13.51 and a beta of 0.48.

Geron (NASDAQ:GERN) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Geron had a negative net margin of 38,730.00% and a negative return on equity of 68.16%. The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.34 million. During the same quarter last year, the firm posted ($0.09) EPS. The business’s quarterly revenue was up 2941.4% on a year-over-year basis. Equities analysts anticipate that Geron will post -0.35 EPS for the current year.

Insider Activity

In related news, COO Andrew J. Grethlein sold 674,348 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $4.56, for a total value of $3,075,026.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Andrew J. Grethlein sold 674,348 shares of Geron stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $4.56, for a total transaction of $3,075,026.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Faye Feller sold 287,900 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $4.63, for a total transaction of $1,332,977.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,562,248 shares of company stock worth $6,808,004. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Geron

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its holdings in shares of Geron by 1,200.0% in the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 6,000 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Geron by 870.0% in the first quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 8,700 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Geron during the first quarter worth approximately $34,000. American Trust bought a new stake in shares of Geron during the first quarter valued at approximately $38,000. Finally, CIBC Asset Management Inc increased its holdings in shares of Geron by 32.7% in the second quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 3,805 shares in the last quarter. Institutional investors own 73.71% of the company’s stock.

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.