Geron Corp. Receives “Neutral” Rating from Zacks (GERN)
Geron Corp. (NASDAQ:GERN)‘s stock had its “neutral” rating restated by Zacks in a report issued on Tuesday, Analyst Ratings Network reports. They currently have a $1.75 target price on the stock. Zacks‘ target price would suggest a potential upside of 5.42% from the stock’s previous close.
Zacks‘ analyst wrote, “Geron posted a net loss of $0.06 per share in the second quarter of 2013, narrower than the Zacks Consensus Estimate of a loss of $0.07 and the year-ago loss of $0.14. Second quarter revenues of $112,000 were below the year-ago revenues of $130,000 and the Zacks Consensus Estimate of $400,000. A significant decline in expenses led to the narrower loss. Geron suffered two pipeline setbacks in 2012 – the first when its phase II breast cancer study with imetelstat had to be discontinued and the second with the scrapping of the second candidate in its pipeline GRN1005. We prefer remaining on the sidelines until we gain more visibility on the late-stage development potential of imetelstat, the company’s sole pipeline candidate. “
Shares of Geron Corp. (NASDAQ:GERN) traded down 3.01% during mid-day trading on Tuesday, hitting $1.61. The stock had a trading volume of 418,630 shares. Geron Corp. has a 52-week low of $0.91 and a 52-week high of $1.83. The stock has a 50-day moving average of $1.43 and a 200-day moving average of $1.28. The company’s market cap is $207.1 million.
Geron Corp. (NASDAQ:GERN) last released its earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.07). The company had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.50 million. During the same quarter last year, the company posted ($0.14) earnings per share. Geron Corp.’s revenue was down 13.8% compared to the same quarter last year. On average, analysts predict that Geron Corp. will post $-0.29 earnings per share for the current fiscal year.
Separately, analysts at Piper Jaffray Cos. upgraded shares of Geron Corp. (NASDAQ:GERN) from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, August 9th. They now have a $4.00 price target on the stock, up previously from $1.50.
Geron Corporation (NASDAQ:GERN) is a biopharmaceutical company developing therapies for cancer.
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