Shares of Geron Corporation (NASDAQ:GERN – Get Free Report) hit a new 52-week low during trading on Wednesday after Needham & Company LLC lowered their price target on the stock from $4.00 to $2.50. Needham & Company LLC currently has a buy rating on the stock. Geron traded as low as $0.86 and last traded at $0.9020, with a volume of 19,432,005 shares traded. The stock had previously closed at $1.15.
Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Geron from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. Wedbush decreased their target price on Geron to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.75.
More Geron News
- Positive Sentiment: Geron plans to analyze the available IMpactMF data, which could clarify imetelstat’s efficacy, safety profile and any remaining commercial or development opportunities. Geron Corporation Provides Update on Phase 3 IMpactMF Clinical Trial of Imetelstat
- Positive Sentiment: The company is reallocating resources toward commercial hematology operations, Rytelo growth and international expansion. This could improve financial discipline and extend the value of its commercial-stage business. Geron Ends Advanced Cancer Study and Shifts Focus to Commercial Growth
- Neutral Sentiment: One analysis argued that discontinuing the IMpactMF study may not be as damaging as initially feared, depending on the forthcoming data review and the future performance of Rytelo. Geron Corporation: IMpactMF Study Discontinuation May Not Be So Disastrous
- Negative Sentiment: Ending the late-stage myelofibrosis trial eliminates a potentially important growth driver for imetelstat and raises concerns about the drug’s broader development prospects. The announcement triggered a sharp selloff and temporarily halted trading in GERN. Geron Discontinues Late-Stage Trial of Blood Cancer Drug
- Negative Sentiment: Needham lowered its price target from $4.00 to $2.50, although it maintained a Buy rating. The reduction reflects increased uncertainty and lowers analysts’ valuation expectations despite substantial implied upside. Needham Analyst Rating and Price Target
Hedge Funds Weigh In On Geron
A number of hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new stake in Geron during the second quarter worth $15,648,000. Bank of America Corp DE bought a new position in shares of Geron in the 2nd quarter valued at $4,524,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Geron during the 2nd quarter worth $2,982,000. Janus Henderson Group PLC lifted its position in shares of Geron by 826.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,218,196 shares of the biopharmaceutical company’s stock worth $3,304,000 after buying an additional 1,978,839 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Geron by 144.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,799,521 shares of the biopharmaceutical company’s stock worth $2,681,000 after buying an additional 1,062,355 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.
Geron Trading Down 2.3%
The firm has a 50-day moving average of $1.30 and a two-hundred day moving average of $1.43. The firm has a market capitalization of $607.91 million, a P/E ratio of -8.60 and a beta of 0.61. The company has a current ratio of 6.91, a quick ratio of 5.16 and a debt-to-equity ratio of 0.55.
Geron (NASDAQ:GERN – Get Free Report) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $57.48 million for the quarter, compared to analyst estimates of $55.30 million. Geron had a negative return on equity of 24.48% and a negative net margin of 34.17%. On average, analysts anticipate that Geron Corporation will post -0.05 EPS for the current year.
About Geron
Geron Corporation (NASDAQ: GERN) is a biopharmaceutical company focused on developing and commercializing treatments for blood cancers and other serious hematologic diseases. Its lead product, Rytelo (imetelstat), is a telomerase inhibitor designed to target malignant blood-forming cells.
Rytelo is approved in the United States for adults with lower-risk myelodysplastic syndromes who have transfusion-dependent anemia requiring regular red blood cell transfusions and have not responded adequately to, or are not eligible for, erythropoiesis-stimulating agents.
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