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.
Several other research analysts have also weighed in on GERN. Wedbush reduced their target price on Geron to $5.00 and set an “outperform” rating on the stock in a report on Wednesday. Weiss Ratings cut shares of Geron from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 21st. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Geron currently has an average rating of “Hold” and an average target price of $3.75.
Read Our Latest Report on GERN
Geron News Roundup
Here are the key news stories impacting Geron this week:
- 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
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Geron in the 3rd quarter valued at $40,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Geron by 14.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 117,226 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 15,128 shares in the last quarter. Signaturefd LLC grew its position in Geron by 122.0% during the 3rd 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. LCM Capital Management Inc bought a new stake in Geron during the 3rd quarter worth $25,000. Finally, Squarepoint Ops LLC bought a new position in shares of Geron during the second quarter valued at $684,000. Institutional investors own 73.71% of the company’s stock.
Geron Price Performance
The company has a fifty day simple moving average of $1.30 and a 200 day simple moving average of $1.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 5.16 and a current ratio of 6.91. The stock has a market capitalization of $607.91 million, a price-to-earnings ratio of -8.60 and a beta of 0.61.
Geron (NASDAQ:GERN – Get Free Report) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Geron had a negative net margin of 34.17% and a negative return on equity of 24.48%. The firm had revenue of $57.48 million for the quarter, compared to analyst estimates of $55.30 million. Equities research analysts forecast that Geron Corporation will post -0.05 EPS for the current fiscal year.
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.
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