Geron (NASDAQ:GERN) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Geron (NASDAQ:GERN) in a research note issued to investors on Thursday morning, RTT News reports. They currently have a $8.00 price target on the biopharmaceutical company’s stock. Wedbush also issued estimates for Geron’s FY2028 earnings at $0.78 EPS.

GERN has been the subject of a number of other reports. 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 target price for the company. Needham & Company LLC restated a buy rating and set a $6.00 price objective on shares of Geron in a research note on Friday, July 26th. Stifel Nicolaus increased 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. Barclays initiated coverage on shares of Geron in a report on Monday, June 10th. They issued an overweight rating and a $9.00 target price on the stock. Finally, Robert W. Baird cut shares of Geron from an outperform rating to a neutral rating and set a $4.50 target price on the stock. in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Geron currently has an average rating of Moderate Buy and a consensus target price of $7.07.

Geron Trading Up 2.2 %

Shares of GERN traded up $0.10 during trading hours on Thursday, reaching $4.70. The stock had a trading volume of 11,614,591 shares, compared to its average volume of 11,457,899. 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 52 week low of $1.64 and a 52 week high of $5.34. The firm has a 50-day moving average of $4.56 and a 200 day moving average of $3.50. The company has a market cap of $2.79 billion, a P/E ratio of -13.43 and a beta of 0.48.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $0.34 million. Geron had a negative net margin of 38,730.00% and a negative return on equity of 68.16%. The firm’s quarterly revenue was up 2941.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, sell-side analysts expect that Geron will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Geron

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

Institutional Trading of Geron

Several institutional investors and hedge funds have recently modified their holdings of GERN. Vivo Capital LLC lifted its position in shares of Geron by 46.1% during the 4th quarter. Vivo Capital LLC now owns 24,143,681 shares of the biopharmaceutical company’s stock worth $50,943,000 after buying an additional 7,619,047 shares during the last quarter. Farallon Capital Management LLC bought a new position in Geron in the first quarter valued at about $24,734,000. Affinity Asset Advisors LLC bought a new position in Geron in the first quarter valued at about $8,250,000. Price T Rowe Associates Inc. MD raised its position in shares of Geron by 999.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock worth $6,815,000 after acquiring an additional 1,877,184 shares during the last quarter. Finally, Altitude Crest Partners Inc. bought a new position in shares of Geron during the first quarter worth about $5,054,000. 73.71% of the stock is currently owned by institutional investors.

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.