Geron (GERN) Upgraded by Needham & Company LLC to Buy

Geron (NASDAQ:GERN) was upgraded by research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, April 9th, Marketbeat Ratings reports. The brokerage presently has a $3.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 66.67% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. B. Riley raised shares of Geron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $1.50 to $3.25 in a research report on Thursday, January 31st. BTIG Research started coverage on shares of Geron in a research report on Tuesday, February 12th. They set a “buy” rating and a $4.00 price objective on the stock. BidaskClub raised shares of Geron from a “hold” rating to a “buy” rating in a research report on Saturday, March 16th. Finally, ValuEngine upgraded shares of Geron from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Geron presently has a consensus rating of “Buy” and an average price target of $3.01.

Shares of NASDAQ:GERN traded down $0.02 during trading hours on Tuesday, reaching $1.80. The stock had a trading volume of 2,359,645 shares, compared to its average volume of 3,153,578. Geron has a 1 year low of $0.95 and a 1 year high of $6.99. The company has a market cap of $335.62 million, a PE ratio of -11.25 and a beta of 2.93.

Geron (NASDAQ:GERN) last posted its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.23 million. Geron had a negative net margin of 2,534.43% and a negative return on equity of 17.61%. As a group, research analysts expect that Geron will post -0.34 earnings per share for the current fiscal year.

In related news, EVP Melissa Kelly Behrs sold 120,635 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $2.00, for a total value of $241,270.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in shares of Geron in the fourth quarter valued at about $25,000. BNP Paribas Arbitrage SA increased its holdings in Geron by 6,429.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 36,629 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 36,068 shares in the last quarter. IHT Wealth Management LLC purchased a new position in Geron during the 4th quarter valued at about $37,000. HRT Financial LLC increased its holdings in Geron by 192.6% during the 4th quarter. HRT Financial LLC now owns 40,098 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 26,393 shares in the last quarter. Finally, SVA Plumb Wealth Management LLC increased its holdings in Geron by 98.8% during the 4th quarter. SVA Plumb Wealth Management LLC now owns 50,300 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 33.45% of the company’s stock.

About Geron

Geron Corporation, a clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for hematologic myeloid malignancies. The company supports the clinical stage development of imetelstat, a telomerase inhibitor for the treatment of hematologic myeloid malignancies.

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