Geron (NASDAQ:GERN) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Geron (NASDAQ:GERN) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $5.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on the stock. TD Cowen started 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. Wedbush reissued an outperform rating and issued a $6.00 price target on shares of Geron in a research report on Wednesday, April 10th. Robert W. Baird downgraded Geron from an outperform rating to a neutral rating and set a $4.50 price objective on the stock. in a research report on Tuesday, April 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Geron from $4.00 to $5.00 and gave the stock a buy rating in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Geron presently has an average rating of Moderate Buy and an average target price of $6.10.

Geron Stock Performance

Shares of Geron stock opened at $3.93 on Thursday. The company has a current ratio of 3.16, a quick ratio of 3.16 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $3.10 and its 200-day moving average price is $2.38. The firm has a market cap of $2.15 billion, a P/E ratio of -11.23 and a beta of 0.55. Geron has a 12 month low of $1.64 and a 12 month high of $4.30.

Geron (NASDAQ:GERN) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Geron had a negative net margin of 38,730.00% and a negative return on equity of 72.19%. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the prior year, the business earned ($0.10) EPS. The firm’s quarterly revenue was down 77.7% on a year-over-year basis. On average, equities research analysts expect that Geron will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pathstone Family Office LLC acquired a new stake in Geron in the third quarter worth about $26,000. China Universal Asset Management Co. Ltd. grew its position in Geron by 101.3% during 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. acquired a new position in Geron during the 3rd quarter valued at approximately $29,000. SG Americas Securities LLC acquired a new position in Geron during the 3rd quarter valued at approximately $40,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Geron in the fourth quarter worth $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.