Geron (NASDAQ:GERN) Stock Gets Price Target Cut from Needham & Company LLC

Geron (NASDAQ:GERN) had its price target decreased by Needham & Company LLC from $4.00 to $2.50 in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on GERN. Wedbush reduced their price target on shares of Geron to $5.00 and set an “outperform” rating for the company in a research report on Wednesday. Weiss Ratings downgraded Geron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 21st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Geron presently has an average rating of “Hold” and an average target price of $3.75.

Geron Stock Performance

Shares of GERN stock opened at $0.89 on Wednesday. The stock has a market capitalization of $574.63 million, a PE ratio of -8.13 and a beta of 0.61. Geron has a one year low of $0.84 and a one year high of $2.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 6.91 and a quick ratio of 5.16. The business’s 50 day simple moving average is $1.29 and its 200 day simple moving average is $1.42.

Geron (NASDAQ:GERN) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $57.48 million during 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%. As a group, research analysts forecast that Geron will post -0.05 earnings per share for the current year.

Institutional Trading of Geron

A number of large investors have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Geron during the second quarter worth $25,000. LCM Capital Management Inc purchased a new stake in Geron in the third quarter valued at about $25,000. GTS Securities LLC raised its stake in Geron by 71.6% in the second quarter. GTS Securities LLC now owns 23,772 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 9,921 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Geron in the second quarter worth about $38,000. Finally, Signaturefd LLC grew its stake in shares of Geron by 122.0% during the third quarter. Signaturefd LLC now owns 30,028 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 16,500 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.

Geron Company Profile

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.