Geron (GERN) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Geron (NASDAQ:GERN) from a strong sell rating to a sell rating in a research report sent to investors on Thursday.

A number of other brokerages have also recently issued reports on GERN. Needham & Company LLC reaffirmed a hold rating on shares of Geron in a research note on Friday, November 3rd. Stifel Nicolaus reaffirmed a hold rating and set a $2.50 price objective on shares of Geron in a research note on Friday, November 3rd. Finally, Zacks Investment Research cut Geron from a buy rating to a hold rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Geron presently has a consensus rating of Hold and an average target price of $3.75.

Geron (NASDAQ GERN) traded up $0.10 on Thursday, reaching $2.04. The company had a trading volume of 2,408,000 shares, compared to its average volume of 1,400,733. Geron has a 1-year low of $1.74 and a 1-year high of $3.15. The company has a market capitalization of $324.83, a PE ratio of -11.33 and a beta of 2.59.

Geron (NASDAQ:GERN) last announced its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Geron had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.40 million. During the same period last year, the firm earned ($0.02) earnings per share. The company’s revenue for the quarter was down 96.8% compared to the same quarter last year. research analysts predict that Geron will post -0.17 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Geron by 783.9% during the third quarter. Russell Investments Group Ltd. now owns 363,990 shares of the biopharmaceutical company’s stock valued at $794,000 after buying an additional 322,810 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Geron by 42.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 82,426 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 24,370 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in shares of Geron during the second quarter worth about $122,000. State Street Corp boosted its holdings in shares of Geron by 9.8% during the second quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock worth $14,205,000 after purchasing an additional 459,700 shares during the period. Finally, Zacks Investment Management purchased a new stake in shares of Geron during the second quarter worth about $148,000. 39.21% of the stock is currently owned by hedge funds and other institutional investors.

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About Geron

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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