Geron Corporation (GERN) Given Average Recommendation of “Hold” by Brokerages
Geron Corporation (NASDAQ:GERN) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $3.75.
A number of equities analysts have issued reports on GERN shares. Zacks Investment Research cut Geron Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut Geron Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
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A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its holdings in Geron Corporation by 42.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 82,426 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 24,370 shares in the last quarter. IHT Wealth Management LLC bought a new position in Geron Corporation during the 2nd quarter worth about $122,000. State Street Corp increased its holdings in Geron Corporation by 9.8% during the 2nd quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock worth $14,205,000 after purchasing an additional 459,700 shares in the last quarter. Zacks Investment Management bought a new position in Geron Corporation during the 2nd quarter worth about $148,000. Finally, Voya Investment Management LLC increased its holdings in Geron Corporation by 12.0% during the 2nd quarter. Voya Investment Management LLC now owns 79,449 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 8,534 shares in the last quarter. Hedge funds and other institutional investors own 38.78% of the company’s stock.
Geron Corporation (NASDAQ:GERN) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.40 million. Geron Corporation had a negative return on equity of 21.30% and a negative net margin of 433.72%. The company’s revenue was down 96.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS.
About Geron Corporation
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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