Geron Corp. (GERN) Rating Lowered to Hold at Zacks Investment Research
Geron Corp. (NASDAQ:GERN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Geron’s third-quarter results were encouraging with the company reporting a narrower-than-expected loss and revenues surpassing estimates. The company's telomerase technology platform represents significant commercial opportunity. The successful development of products that target telomeres could very well change the treatment paradigm for several diseases including oncology, which represents huge commercial potential. We are positive on the company’s agreement with J&J for imetelstat which provides it with a strong partner as well as funds. However, Geron's dependence on a single pipeline candidate is concerning. Imetelstat has already run into trouble earlier with the FDA placing a full clinical hold. Moreover, unfavorable findings from the planned internal reviews of initial data from the two late-stage studies – IMbark and IMerge – were disappointing. Investor focus will remain on imetelstat-related updates.”
GERN has been the subject of several other research reports. BTIG Research reissued a “neutral” rating on shares of Geron Corp. in a research report on Monday, September 12th. FBR & Co cut their target price on shares of Geron Corp. from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, September 13th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $5.00 target price (down previously from $10.00) on shares of Geron Corp. in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $5.00.
Geron Corp. (NASDAQ:GERN) opened at 2.22 on Monday. The stock’s market cap is $353.30 million. The company has a 50-day moving average price of $2.13 and a 200 day moving average price of $2.54. Geron Corp. has a 1-year low of $1.81 and a 1-year high of $5.30.
Geron Corp. (NASDAQ:GERN) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. Geron Corp. had a negative net margin of 469.51% and a negative return on equity of 21.96%. The firm earned $5.10 million during the quarter, compared to analyst estimates of $0.22 million. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue was down 85.6% on a year-over-year basis. Equities analysts expect that Geron Corp. will post ($0.19) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Geron Corp. by 8.0% in the second quarter. Vanguard Group Inc. now owns 6,296,230 shares of the biopharmaceutical company’s stock valued at $16,874,000 after buying an additional 465,626 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Geron Corp. by 5.0% in the third quarter. BlackRock Fund Advisors now owns 6,290,216 shares of the biopharmaceutical company’s stock valued at $14,216,000 after buying an additional 299,373 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Geron Corp. by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,989,338 shares of the biopharmaceutical company’s stock valued at $9,016,000 after buying an additional 141,211 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Geron Corp. by 32.9% in the first quarter. Panagora Asset Management Inc. now owns 1,823,587 shares of the biopharmaceutical company’s stock valued at $5,325,000 after buying an additional 451,440 shares during the last quarter. Finally, A.R.T. Advisors LLC increased its position in shares of Geron Corp. by 59.0% in the first quarter. A.R.T. Advisors LLC now owns 661,334 shares of the biopharmaceutical company’s stock valued at $1,931,000 after buying an additional 245,500 shares during the last quarter. Institutional investors own 38.34% of the company’s stock.
About Geron Corp.
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company operates through the segment, which includes discovery and development of therapeutic products for oncology.
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