Geron Corporation (NASDAQ:GERN) Posts Earnings Results, Beats Expectations By $0.01 EPS
Geron Corporation (NASDAQ:GERN) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01, Briefing.com reports. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 20.88%. The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.38 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was down 19.0% on a year-over-year basis.
Shares of Geron Corporation (NASDAQ GERN) traded down 0.48% during mid-day trading on Friday, hitting $2.08. 1,094,927 shares of the stock were exchanged. The stock has a 50-day moving average price of $2.68 and a 200 day moving average price of $2.47. Geron Corporation has a 52-week low of $1.81 and a 52-week high of $3.15. The firm’s market cap is $331.10 million.
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A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Geron Corporation during the second quarter valued at $114,000. Tudor Investment Corp ET AL increased its position in shares of Geron Corporation by 12.1% in the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 5,669 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Geron Corporation by 31.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,056 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 13,500 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Geron Corporation by 59.4% in the second quarter. Parametric Portfolio Associates LLC now owns 47,976 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 17,877 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Geron Corporation by 26.5% in the first quarter. Bank of America Corp DE now owns 65,403 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 13,698 shares during the last quarter. Institutional investors own 38.16% of the company’s stock.
A number of analysts have recently commented on GERN shares. Zacks Investment Research lowered shares of Geron Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. FBR & Co reiterated a “buy” rating on shares of Geron Corporation in a research note on Tuesday, July 4th. Finally, BidaskClub lowered shares of Geron Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Geron Corporation has a consensus rating of “Hold” and an average price target of $3.88.
About Geron Corporation
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 is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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