TD Cowen Initiates Coverage on Geron (NASDAQ:GERN)

TD Cowen started coverage on shares of Geron (NASDAQ:GERN) in a research note published on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Geron from $4.00 to $5.00 and gave the stock a buy rating in a report on Friday, March 15th. Wedbush reaffirmed an outperform rating and issued a $6.00 price target on shares of Geron in a report on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $5.00 price target on shares of Geron in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $6.10.

Geron Stock Performance

Shares of GERN stock opened at $4.08 on Monday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -12.36 and a beta of 0.62. The company’s 50 day moving average is $2.97 and its 200 day moving average is $2.34. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 0.14. Geron has a 52-week low of $1.64 and a 52-week high of $4.30.

Geron (NASDAQ:GERN) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Geron had a negative net margin of 77,691.14% and a negative return on equity of 63.33%. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. During the same period last year, the company posted ($0.10) earnings per share. Geron’s revenue was down 77.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Geron will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Geron

Several institutional investors and hedge funds have recently made changes to their positions in GERN. Pathstone Family Office LLC acquired a new stake in shares of Geron during the third quarter worth $26,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Geron by 101.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,426 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 6,757 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Geron during the third quarter worth $29,000. SG Americas Securities LLC acquired a new position in Geron during the third quarter valued at $40,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Geron during the fourth quarter valued at $58,000. 73.71% of the stock is currently 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.