Geron (NASDAQ:GERN) Hits New 52-Week High at $4.05

Geron Co. (NASDAQ:GERN - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $4.05 and last traded at $4.01, with a volume of 6313886 shares changing hands. The stock had previously closed at $3.79.

Analyst Ratings Changes

Several brokerages have weighed in on GERN. TD Cowen assumed coverage on Geron in a research note on Monday. They issued a "buy" rating and a $10.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of Geron from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Friday, March 15th. Wedbush restated an "outperform" rating and issued a $6.00 target price on shares of Geron in a research note on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $5.00 price target on shares of Geron in a research note on Thursday, April 11th.

Geron Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.16 and a quick ratio of 3.16. The company has a 50-day simple moving average of $2.89 and a 200-day simple moving average of $2.31. The stock has a market cap of $2.26 billion, a PE ratio of -12.58 and a beta of 0.61.

Geron (NASDAQ:GERN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The business had revenue of $0.02 million for the quarter, compared to analysts' expectations of $0.06 million. Geron had a negative net margin of 77,691.14% and a negative return on equity of 63.33%. The business's revenue for the quarter was down 77.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS. Sell-side analysts anticipate that Geron Co. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Geron

Several hedge funds have recently bought and sold shares of GERN. RA Capital Management L.P. increased its holdings in Geron by 46.5% during the 3rd quarter. RA Capital Management L.P. now owns 46,202,425 shares of the biopharmaceutical company's stock valued at $97,949,000 after acquiring an additional 14,657,619 shares in the last quarter. Vivo Capital LLC increased its stake in shares of Geron by 12.8% during the 1st quarter. Vivo Capital LLC now owns 27,225,292 shares of the biopharmaceutical company's stock worth $89,843,000 after purchasing an additional 3,081,611 shares in the last quarter. MPM Bioimpact LLC raised its position in shares of Geron by 16.6% during the 3rd quarter. MPM Bioimpact LLC now owns 10,712,481 shares of the biopharmaceutical company's stock worth $22,710,000 after purchasing an additional 1,521,191 shares during the last quarter. Wellington Management Group LLP lifted its stake in Geron by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,405,626 shares of the biopharmaceutical company's stock valued at $22,060,000 after buying an additional 342,493 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Geron by 20.8% during the 3rd quarter. Invesco Ltd. now owns 4,557,790 shares of the biopharmaceutical company's stock valued at $9,663,000 after buying an additional 784,822 shares during the last quarter. 73.71% of the stock is owned by hedge funds and other institutional investors.

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.