Geron Corporation (NASDAQ:GERN) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Geron has a consensus “Hold” rating from six analysts: three recommend buying, two rate it a hold, and one recommends selling. The average 12-month price target is $4.00.
• Shares fell to $0.91, near the company’s 52-week low of $0.84, while trading volume significantly exceeded its average. Geron reported quarterly revenue of $57.48 million but missed analyst expectations on earnings per share.
• Institutional investors own approximately 73.71% of Geron’s stock. The company’s lead product, Rytelo (imetelstat), is approved in the U.S. for certain adults with lower-risk myelodysplastic syndromes and transfusion-dependent anemia.

Shares of Geron Corporation (NASDAQ:GERN - Get Free Report) have earned a consensus rating of "Hold" from the six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $4.00.

Several brokerages have commented on GERN. Wedbush reaffirmed an "outperform" rating on shares of Geron in a research note on Wednesday. Weiss Ratings cut Geron from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, October 21st.

Geron Stock Performance

Geron stock traded down $0.24 during trading hours on Wednesday, reaching $0.91. 45,809,824 shares of the company's stock traded hands, compared to its average volume of 13,613,758. Geron has a fifty-two week low of $0.84 and a fifty-two week high of $2.01. The firm's 50 day moving average is $1.33 and its 200-day moving average is $1.43. The firm has a market capitalization of $585.29 million, a price-to-earnings ratio of -8.14 and a beta of 0.61.

Geron (NASDAQ:GERN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The business had revenue of $57.48 million for the quarter, compared to analysts' expectations of $55.30 million. Analysts predict that Geron will post -0.05 EPS for the current year.

Institutional Trading of Geron

Several institutional investors and hedge funds have recently bought and sold shares of GERN. Hsbc Holdings PLC acquired a new position in shares of Geron during the 2nd quarter worth approximately $25,000. LCM Capital Management Inc bought a new position in shares of Geron in the third quarter valued at about $25,000. GTS Securities LLC raised its position in shares of Geron by 71.6% in the second quarter. GTS Securities LLC now owns 23,772 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 9,921 shares during the period. Signaturefd LLC lifted its stake in shares of Geron by 122.0% during the 3rd quarter. Signaturefd LLC now owns 30,028 shares of the biopharmaceutical company's stock worth $37,000 after buying an additional 16,500 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Geron during the 2nd quarter worth about $38,000. Institutional investors own 73.71% of the company's stock.

About Geron

Geron Corporation NASDAQ: GERN is a biopharmaceutical company focused on developing and commercializing treatments for blood cancers and other serious hematologic diseases. Its lead product, Rytelo (imetelstat), is a telomerase inhibitor designed to target malignant blood-forming cells.

Rytelo is approved in the United States for adults with lower-risk myelodysplastic syndromes who have transfusion-dependent anemia requiring regular red blood cell transfusions and have not responded adequately to, or are not eligible for, erythropoiesis-stimulating agents.

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