Geron (NASDAQ:GERN) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Geron (NASDAQ:GERN) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05, Briefing.com reports. The firm had revenue of $28.27 million during the quarter, compared to analyst estimates of $18.97 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 17138.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS.

Geron Price Performance

Shares of NASDAQ GERN traded down $0.07 during trading hours on Friday, reaching $4.22. 6,805,310 shares of the stock traded hands, compared to its average volume of 10,438,124. The company’s 50-day simple moving average is $4.32 and its two-hundred day simple moving average is $4.30. The company has a market capitalization of $2.54 billion, a P/E ratio of -11.92 and a beta of 0.52. Geron has a 52-week low of $1.64 and a 52-week high of $5.34. The company has a quick ratio of 3.60, a current ratio of 3.61 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GERN shares. HC Wainwright initiated coverage on Geron in a research report on Tuesday. They set a “buy” rating and a $8.00 target price for 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 set a $6.00 price objective on shares of Geron in a report on Friday, August 9th. Scotiabank assumed coverage on shares of Geron in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $6.00 target price for the company. Finally, StockNews.com upgraded shares of Geron to a “sell” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.05.

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.