Zacks Reiterates “Neutral” Rating for Geron (GERN)
Geron (NASDAQ:GERN)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Tuesday. They currently have a $2.25 price objective on the stock. Zacks‘s target price suggests a potential upside of 9.22% from the stock’s previous close.
Zacks’ analyst wrote, “Geron posted a first quarter 2014 loss of $0.06 per share, in line with the Zacks Consensus Estimate but narrower than the year-ago loss of $0.09. First quarter revenues of $474,000 were below the year-ago revenues of $765,000 and the Zacks Consensus Estimate of $1 million. Geron suffered a huge setback in Mar 2014 when the FDA placed a clinical hold on its sole pipeline candidate, imetelstat. What is concerning is the liver toxicity issues raised by the agency. Although Geron is working on getting together the data required by the FDA, we currently have low visibility on the candidate’s future. Even if imetelstat studies continue, concerns about LFT abnormalities could limit the commercial potential of the candidate and restrict its long-term usage.”
Shares of Geron (NASDAQ:GERN) traded down 1.94% on Tuesday, hitting $2.02. 1,579,591 shares of the company’s stock traded hands. Geron has a 1-year low of $1.06 and a 1-year high of $7.79. The stock has a 50-day moving average of $1.92 and a 200-day moving average of $3.83. The company’s market cap is $317.0 million.
Geron (NASDAQ:GERN) last released its earnings data on Thursday, May 1st. The company reported ($0.06) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.06). The company had revenue of $0.47 million for the quarter, compared to the consensus estimate of $0.35 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was down 38.0% on a year-over-year basis. Analysts expect that Geron will post $-0.25 EPS for the current fiscal year.
A number of other firms have also recently commented on GERN. Analysts at Wells Fargo & Co. reiterated a “positive” rating on shares of Geron in a research note on Thursday, March 13th. Separately, analysts at Needham & Company LLC downgraded shares of Geron from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, analysts at MLV & Co
downgraded shares of Geron from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. They now have a $2.00 price target on the stock, down previously from $9.00. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.13.
Geron Corporation (NASDAQ:GERN) is a clinical-stage biopharmaceutical company developing a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.