Geron Corporation (GERN) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Geron Corporation (NASDAQ:GERN) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Geron is optimistic about the agreement with J&J for its lead pipeline candidate – imetelstat – which provides it a strong partner as well as funds. Imetelstat is being developed for the treatment of myelofibrosis and myelodysplastic syndromes. In 2016, J&J announced unfavorable findings from the planned internal reviews of initial data from the two studies of imetelstat, IMbark and IMerge. However, in April 2017, Geron informed that Janssen has completed the second internal data review of the two studies and as a result of the review, both trials are continuing unmodified. However, Geron's dependence on a single pipeline candidate, imetelstat, raises concerns. Moreover, Geron’s shares underperformed the industry so far this year. Estimates have remained stable ahead of the Q3 earnings results. The company has a positive record of earnings surprises in recent quarters.”

Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Geron Corporation from a hold rating to a sell rating in a research report on Saturday, August 5th. FBR & Co reissued a buy rating on shares of Geron Corporation in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $3.75.

Geron Corporation (NASDAQ GERN) traded down 0.402% during trading on Tuesday, hitting $2.231. The stock had a trading volume of 59,191 shares. The company’s market capitalization is $355.20 million. The stock’s 50-day moving average price is $2.16 and its 200-day moving average price is $2.49. Geron Corporation has a 1-year low of $1.81 and a 1-year high of $3.15.

Geron Corporation (NASDAQ:GERN) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.38 million. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. Analysts expect that Geron Corporation will post ($0.18) earnings per share for the current year.

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A number of large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its position in Geron Corporation by 1.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 58,056 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 1,000 shares during the period. Creative Planning grew its position in Geron Corporation by 1.3% in the 2nd quarter. Creative Planning now owns 103,213 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 1,345 shares during the period. IHT Wealth Management LLC bought a new stake in Geron Corporation in the 2nd quarter worth approximately $122,000. Tudor Investment Corp ET AL grew its position in Geron Corporation by 12.1% in the 1st quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 5,669 shares during the period. Finally, American International Group Inc. grew its position in Geron Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 92,964 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 6,140 shares during the period. 38.79% of the stock is owned by institutional investors and hedge funds.

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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