Needham & Company LLC Reaffirms Hold Rating for Geron Corporation (GERN)
Geron Corporation (NASDAQ:GERN)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a report released on Friday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Geron Corporation from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Tuesday, October 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $2.50 target price on shares of Geron Corporation in a research note on Friday. Finally, BidaskClub cut Geron Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $3.75.
Shares of Geron Corporation (NASDAQ:GERN) traded down $0.05 on Friday, reaching $2.12. The company’s stock had a trading volume of 935,088 shares, compared to its average volume of 1,275,479.
Geron Corporation (NASDAQ:GERN) last issued its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.40 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The business’s revenue for the quarter was down 96.8% compared to the same quarter last year. equities analysts expect that Geron Corporation will post -0.18 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of Geron Corporation in the 2nd quarter valued at $114,000. Tudor Investment Corp ET AL increased its stake in shares of Geron Corporation by 12.1% in the 1st 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. IHT Wealth Management LLC acquired a new stake in shares of Geron Corporation in the 2nd quarter valued at $122,000. Parametric Portfolio Associates LLC increased its stake in shares of Geron Corporation by 59.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 47,976 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 17,877 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Geron Corporation by 26.5% in the 1st quarter. Bank of America Corp DE now owns 65,403 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 13,698 shares during the period. 38.78% of the stock is owned by institutional investors.
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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