Needham & Company LLC Reaffirms Hold Rating for Geron Corporation (GERN)
Geron Corporation (NASDAQ:GERN)‘s stock had its “hold” rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Friday.
Several other brokerages have also issued reports on GERN. Zacks Investment Research lowered Geron Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub lowered Geron Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $2.50 price target on shares of Geron Corporation in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Geron Corporation currently has an average rating of “Hold” and an average target price of $3.75.
Geron Corporation (NASDAQ:GERN) traded down $0.05 during mid-day trading on Friday, hitting $2.12. 935,088 shares of the stock traded hands, compared to its average volume of 1,275,479.
Geron Corporation (NASDAQ:GERN) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.40 million. Geron Corporation had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. The company’s quarterly revenue was down 96.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. research analysts forecast that Geron Corporation will post -0.18 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of GERN. Russell Investments Group Ltd. bought a new position in shares of Geron Corporation in the second quarter valued at approximately $114,000. Tudor Investment Corp ET AL lifted its holdings in shares of Geron Corporation by 12.1% in the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 5,669 shares in the last quarter. IHT Wealth Management LLC bought a new position in shares of Geron Corporation in the second quarter valued at approximately $122,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Geron Corporation by 59.4% in the second quarter. Parametric Portfolio Associates LLC now owns 47,976 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 17,877 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Geron Corporation by 26.5% in the first quarter. Bank of America Corp DE now owns 65,403 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 13,698 shares in the last quarter. Institutional investors own 38.78% of the company’s stock.
Geron Corporation Company Profile
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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