Geron (NASDAQ:GERN) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Geron (NASDAQ:GERN) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $4.00 price target on the biopharmaceutical company’s stock.

GERN has been the subject of several other research reports. ValuEngine raised shares of Geron from a hold rating to a buy rating in a report on Saturday, August 10th. BidaskClub downgraded shares of Geron from a hold rating to a sell rating in a report on Thursday, June 13th. Finally, B. Riley increased their price objective on shares of Geron from $3.25 to $4.50 and gave the company a buy rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $3.46.

GERN opened at $1.41 on Thursday. The firm has a 50-day simple moving average of $1.29 and a two-hundred day simple moving average of $1.51. Geron has a 52 week low of $0.95 and a 52 week high of $6.99. The company has a market capitalization of $261.91 million, a PE ratio of -8.81 and a beta of 2.59.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. Geron had a negative net margin of 5,328.80% and a negative return on equity of 22.33%. The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.20 million. As a group, analysts forecast that Geron will post -0.44 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Geron by 7.9% during the 4th quarter. BlackRock Inc. now owns 15,038,176 shares of the biopharmaceutical company’s stock worth $15,037,000 after buying an additional 1,102,419 shares during the period. Northern Trust Corp raised its stake in Geron by 5.2% during the 4th quarter. Northern Trust Corp now owns 2,167,955 shares of the biopharmaceutical company’s stock worth $2,168,000 after buying an additional 106,448 shares during the period. Geode Capital Management LLC raised its stake in Geron by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,892,556 shares of the biopharmaceutical company’s stock worth $1,892,000 after buying an additional 76,135 shares during the period. Millennium Management LLC raised its stake in Geron by 242.5% during the 4th quarter. Millennium Management LLC now owns 736,307 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 1,253,007 shares during the period. Finally, Amalgamated Bank purchased a new stake in shares of Geron in the fourth quarter worth approximately $25,000. 31.06% of the stock is owned by institutional investors and hedge funds.

Geron Company Profile

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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