Geron (NASDAQ:GERN) Given New $5.00 Price Target at Needham & Company LLC

Geron (NASDAQ:GERN) had its target price trimmed by Needham & Company LLC from $7.00 to $5.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

GERN has been the topic of a number of other reports. Barclays reissued an “overweight” rating and issued a $4.00 price objective (down from $9.00) on shares of Geron in a research note on Thursday. B. Riley downgraded Geron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $3.50 to $2.00 in a report on Thursday. Finally, HC Wainwright cut Geron from a “buy” rating to a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Geron currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.68.

Geron Price Performance

Shares of GERN stock opened at $1.74 on Thursday. Geron has a twelve month low of $1.46 and a twelve month high of $5.34. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.05 billion, a P/E ratio of -5.44 and a beta of 0.53. The business has a fifty day simple moving average of $2.97 and a 200 day simple moving average of $3.80.

Geron (NASDAQ:GERN) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $47.54 million for the quarter, compared to the consensus estimate of $45.29 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. On average, sell-side analysts forecast that Geron will post -0.25 EPS for the current fiscal year.

Institutional Trading of Geron

Several institutional investors have recently made changes to their positions in the company. Creative Planning grew its position in Geron by 23.8% in the 3rd quarter. Creative Planning now owns 92,784 shares of the biopharmaceutical company’s stock worth $421,000 after purchasing an additional 17,837 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Geron by 23.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,802 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 4,094 shares during the last quarter. abrdn plc bought a new position in shares of Geron in the third quarter valued at approximately $6,752,000. US Bancorp DE increased its position in shares of Geron by 68.4% during the third quarter. US Bancorp DE now owns 18,296 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 7,429 shares during the last quarter. Finally, Rovin Capital UT ADV purchased a new stake in shares of Geron during the third quarter valued at approximately $62,000. 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.