Geron’s Neutral Rating Reaffirmed at Zacks (GERN)
Geron (NASDAQ:GERN)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Tuesday. They currently have a $2.50 price objective on the stock. Zacks‘s target price indicates a potential upside of 5.93% from the stock’s previous close.
Zacks’ analyst wrote, “Geron posted a second quarter loss of $0.06 per share, in line with the Zacks Consensus Estimate and the year-ago loss. Revenues of $341,000 were above the year-ago revenues of $112,000 but below the Zacks Consensus Estimate of $0.5 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 the FDA lifted a partial clinical hold on an investigator-sponsored study, the full clinical hold on Geron’s IND remains in place. While 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.”
Geron (NASDAQ:GERN) traded down 1.27% on Tuesday, hitting $2.3301. The stock had a trading volume of 2,247,023 shares. Geron has a 52-week low of $1.3138 and a 52-week high of $7.3629. The stock’s 50-day moving average is $2.50 and its 200-day moving average is $2.6. The company’s market cap is $365.6 million.
Geron (NASDAQ:GERN) last announced its earnings results on Monday, August 11th. The company reported ($0.06) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.06). The company had revenue of $0.34 million for the quarter, compared to the consensus estimate of $0.22 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 209.1% on a year-over-year basis. On average, analysts predict that Geron will post $-0.23 earnings per share for the current fiscal year.
Separately, analysts at MLV & Co
upgraded shares of Geron from a “hold” rating to a “buy” rating in a research note on Thursday, June 12th. They now have a $4.25 price target on the stock, up previously from $2.00. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $3.38.
Geron Corporation (NASDAQ:GERN) is a clinical-stage biopharmaceutical company developing a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies.
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