Geron Corp. Stock Rating Reaffirmed by Zacks (GERN)
Geron Corp. (NASDAQ:GERN)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday, American Banking & Market News reports. They currently have a $5.50 target price on the stock. Zacks‘ price objective would suggest a potential upside of 22.22% from the stock’s previous close.
Zacks‘ analyst wrote, “Geron posted a net loss of $0.06 per share in the third quarter of 2013, in line with the Zacks Consensus Estimate but narrower than the year-ago loss of $0.13. Third quarter revenues of $181,000 were below the year-ago revenues of $636,000 and the Zacks Consensus Estimate of $500,000. Geron’s third quarter results were overshadowed by an ASH abstract on imetelstat. The data looks encouraging and Geron may very well have another shot at developing imetelstat. Geron did not have much success in developing imetelstat for breast cancer and non-small cell lung cancer earlier. While we believe this data supports the further development of imetelstat, we note that the data is early-stage in nature. We remain Neutral on the stock until we see additional data. “
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Geron Corp. from a “buy” rating to a “hold” rating in a research note to investors on Monday, December 30th. Separately, analysts at MLV Capital raised their price target on shares of Geron Corp. from $8.00 to $9.00 in a research note to investors on Tuesday, December 10th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company upgraded shares of Geron Corp. from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, December 10th. They now have a $10.00 price target on the stock, up previously from $5.52. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $7.13.
Shares of Geron Corp. (NASDAQ:GERN) traded down 13.79% on Monday, hitting $4.50. The stock had a trading volume of 8,460,973 shares. Geron Corp. has a 1-year low of $0.98 and a 1-year high of $7.79. The stock has a 50-day moving average of $5.09 and a 200-day moving average of $3.17. The company’s market cap is $580.4 million.
Geron Corp. (NASDAQ:GERN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.06). The company had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.49 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was down 71.5% on a year-over-year basis. Analysts expect that Geron Corp. will post $-0.29 EPS for the current fiscal year.
Geron Corporation (NASDAQ:GERN) is a biopharmaceutical company developing therapies for cancer.
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