Geron (NASDAQ:GERN) Shares Up 6.1% - Time to Buy?

Key Points

• Geron Corporation's stock price surged by 6.1% to $1.49 amidst lower trading volumes, marking a significant jump from its previous close of $1.40.
• Analysts have a consensus price target of $4.19 for Geron, with ratings ranging from "Strong Buy" to "Sell," indicating mixed market sentiments.
• Geron reported a remarkable revenue increase of 5455.6% year-over-year, achieving $49.04 million for the quarter, surpassing estimates.

Geron Corporation (NASDAQ:GERN - Get Free Report) shot up 6.1% during trading on Tuesday . The company traded as high as $1.49 and last traded at $1.49. 1,665,939 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 12,279,293 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

A number of research firms have commented on GERN. The Goldman Sachs Group began coverage on Geron in a research report on Thursday, July 10th. They issued a "sell" rating and a $1.00 price target on the stock. Scotiabank lowered Geron from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $4.00 to $1.50 in a research report on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.19.

Geron Trading Up 5.4%

The firm has a market capitalization of $941.08 million, a price-to-earnings ratio of -11.35 and a beta of 0.63. The business has a 50 day moving average of $1.35 and a two-hundred day moving average of $1.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.79 and a current ratio of 7.87.

Geron (NASDAQ:GERN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $49.04 million during the quarter, compared to the consensus estimate of $47.30 million. Geron had a negative return on equity of 31.37% and a negative net margin of 53.52%.The company's quarterly revenue was up 5455.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) earnings per share. Equities analysts predict that Geron Corporation will post -0.25 EPS for the current year.

Institutional Trading of Geron

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Geron by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 392,534 shares of the biopharmaceutical company's stock worth $627,000 after purchasing an additional 8,123 shares during the last quarter. Frisch Financial Group Inc. increased its position in shares of Geron by 84.3% during the first quarter. Frisch Financial Group Inc. now owns 19,025 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 8,700 shares during the last quarter. E Fund Management Co. Ltd. increased its position in shares of Geron by 12.0% during the second quarter. E Fund Management Co. Ltd. now owns 92,238 shares of the biopharmaceutical company's stock valued at $130,000 after acquiring an additional 9,849 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Geron during the fourth quarter valued at approximately $36,000. Finally, Savant Capital LLC increased its position in shares of Geron by 73.8% during the second quarter. Savant Capital LLC now owns 26,074 shares of the biopharmaceutical company's stock valued at $37,000 after acquiring an additional 11,074 shares during the last quarter. 73.71% of the stock is owned by hedge funds and other institutional investors.

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.

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