Geron Corp. (GERN) Shares Down 2.5%
Geron Corp. (NASDAQ:GERN) shares fell 2.5% on Thursday . The stock traded as low as $2.66 and last traded at $2.71, with a volume of 1,031,790 shares trading hands. The stock had previously closed at $2.78.
Several brokerages have weighed in on GERN. FBR & Co reiterated a “buy” rating on shares of Geron Corp. in a report on Sunday, May 8th. Zacks Investment Research raised shares of Geron Corp. from a “hold” rating to a “strong-buy” rating and set a $3.00 price objective for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $6.17.
The company has a market capitalization of $438.73 million and a P/E ratio of 920.00. The stock’s 50 day moving average is $2.68 and its 200 day moving average is $2.84.
Geron Corp. (NASDAQ:GERN) last issued its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.38 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. Equities analysts predict that Geron Corp. will post ($0.23) earnings per share for the current fiscal year.
A number of hedge funds have modified their holdings of GERN. Morgan Stanley boosted its stake in shares of Geron Corp. by 194.2% in the fourth quarter. Morgan Stanley now owns 268,626 shares of the biopharmaceutical company’s stock worth $1,300,000 after buying an additional 177,313 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Geron Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 292,950 shares of the biopharmaceutical company’s stock worth $1,418,000 after buying an additional 5,223 shares during the last quarter. Finally, Russell Frank Co acquired a new stake in shares of Geron Corp. during the fourth quarter worth $1,099,000.
Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company operates through the segment, which includes discovery and development of therapeutic products for oncology.
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