Geron Corporation (GERN) Trading Up 6.4%
Geron Corporation (NASDAQ:GERN)’s share price was up 6.4% during mid-day trading on Thursday . The company traded as high as $2.24 and last traded at $2.17, with a volume of 2,162,252 shares trading hands. The stock had previously closed at $2.04.
A number of equities analysts have recently issued reports on GERN shares. FBR & Co reiterated a “buy” rating on shares of Geron Corporation in a research note on Tuesday, July 4th. Zacks Investment Research upgraded shares of Geron Corporation from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Thursday, June 15th. Finally, BidaskClub downgraded shares of Geron Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $3.88.
The stock’s 50-day moving average price is $2.35 and its 200-day moving average price is $2.47. The firm’s market cap is $343.90 million.
Geron Corporation (NASDAQ:GERN) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Geron Corporation had a negative net margin of 433.72% and a negative return on equity of 21.30%. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.38 million. During the same period in the prior year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis. Analysts predict that Geron Corporation will post ($0.18) EPS for the current year.
Large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Geron Corporation by 1.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,056 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 1,000 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in shares of Geron Corporation during the second quarter worth approximately $122,000. State Street Corp increased its stake in shares of Geron Corporation by 9.8% in the second quarter. State Street Corp now owns 5,127,578 shares of the biopharmaceutical company’s stock worth $14,205,000 after buying an additional 459,700 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Geron Corporation during the second quarter worth approximately $148,000. Finally, Voya Investment Management LLC increased its stake in shares of Geron Corporation by 12.0% in the second quarter. Voya Investment Management LLC now owns 79,449 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 8,534 shares in the last quarter. 38.79% of the stock is currently owned by institutional investors.
Geron Corporation Company Profile
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 is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.
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