Geron (NASDAQ:GERN) Receives New Coverage from Analysts at Scotiabank

Scotiabank began coverage on shares of Geron (NASDAQ:GERN) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued a sector outperform rating and a $6.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. Leerink Partnrs raised Geron to a “strong-buy” rating in a report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Geron in a report on Friday, August 9th. Wedbush reiterated an “outperform” rating and set a $8.00 price target on shares of Geron in a research report on Thursday, August 8th. StockNews.com upgraded shares of Geron to a “sell” rating in a research report on Monday, August 5th. Finally, Leerink Partners initiated coverage on shares of Geron in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.94.

Geron Stock Down 0.5 %

Shares of NASDAQ:GERN opened at $4.17 on Wednesday. The company’s fifty day moving average is $4.46 and its 200-day moving average is $4.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.60 and a current ratio of 3.61. Geron has a 52 week low of $1.64 and a 52 week high of $5.34. The company has a market capitalization of $2.47 billion, a PE ratio of -11.91 and a beta of 0.50.

Geron (NASDAQ:GERN) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). The firm had revenue of $0.88 million for the quarter, compared to analyst estimates of $0.34 million. Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. The company’s revenue for the quarter was up 2941.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) earnings per share. Equities research analysts predict that Geron will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Geron

Several institutional investors have recently modified their holdings of GERN. Commonwealth Equity Services LLC boosted its stake in Geron by 9.3% in the first quarter. Commonwealth Equity Services LLC now owns 251,716 shares of the biopharmaceutical company’s stock valued at $831,000 after acquiring an additional 21,452 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Geron by 26.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,059 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 18,667 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Geron during the first quarter worth $333,000. Swiss National Bank increased its holdings in Geron by 4.0% in the first quarter. Swiss National Bank now owns 804,300 shares of the biopharmaceutical company’s stock valued at $2,654,000 after purchasing an additional 30,700 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Geron by 41.5% in the first quarter. Russell Investments Group Ltd. now owns 1,750,599 shares of the biopharmaceutical company’s stock valued at $5,777,000 after buying an additional 513,365 shares during the period. Institutional investors and hedge funds own 73.71% of the company’s stock.

About Geron

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.