Geron (NASDAQ:GERN) Now Covered by Scotiabank

Investment analysts at Scotiabank began coverage on shares of Geron (NASDAQ:GERN) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “sector outperform” rating and a $6.00 price target on the biopharmaceutical company’s stock. Scotiabank’s price objective would indicate a potential upside of 47.78% from the company’s current price.

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

Geron Stock Performance

NASDAQ GERN opened at $4.06 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.61 and a quick ratio of 3.60. The company has a fifty day moving average price of $4.45 and a 200-day moving average price of $4.23. Geron has a 1 year low of $1.64 and a 1 year high of $5.34. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -11.60 and a beta of 0.50.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. The firm had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.34 million. During the same quarter last year, the business posted ($0.09) EPS. The company’s revenue for the quarter was up 2941.4% on a year-over-year basis. As a group, equities research analysts predict that Geron will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Geron

Hedge funds and other institutional investors have recently bought and sold shares of the business. Darwin Global Management Ltd. bought a new position in shares of Geron in the second quarter worth $106,185,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Geron in the 1st quarter worth about $333,000. Renaissance Technologies LLC purchased a new position in Geron during the 2nd quarter valued at about $3,315,000. Price T Rowe Associates Inc. MD increased its position in shares of Geron by 999.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock valued at $6,815,000 after buying an additional 1,877,184 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of Geron in the second quarter worth about $539,000. Institutional investors own 73.71% of the company’s stock.

Geron Company Profile

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.