Geron (NASDAQ:GERN) Given New $4.00 Price Target at Scotiabank

Geron (NASDAQ:GERN) had its price target lowered by Scotiabank from $6.00 to $4.00 in a research note released on Thursday,Benzinga reports. The firm currently has a sector outperform rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on the stock. Barclays restated an “overweight” rating and set a $4.00 price objective (down from $9.00) on shares of Geron in a research note on Thursday. Stifel Nicolaus lowered their price target on shares of Geron from $8.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday. HC Wainwright lowered Geron from a “buy” rating to a “neutral” rating in a research note on Wednesday. Needham & Company LLC decreased their price objective on Geron from $7.00 to $5.00 and set a “buy” rating for the company in a report on Thursday. Finally, B. Riley lowered Geron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $3.50 to $2.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.68.

Geron Trading Up 8.1 %

NASDAQ GERN opened at $1.74 on Thursday. Geron has a 12 month low of $1.46 and a 12 month high of $5.34. The stock has a market cap of $1.05 billion, a PE ratio of -5.44 and a beta of 0.53. The company’s 50-day moving average price is $2.97 and its 200-day moving average price is $3.80. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04.

Geron (NASDAQ:GERN) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $47.54 million during the quarter, compared to analyst estimates of $45.29 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. Equities research analysts forecast that Geron will post -0.25 earnings per share for the current year.

Institutional Trading of Geron

Institutional investors have recently modified their holdings of the company. Creative Planning boosted its stake in shares of Geron by 23.8% during the 3rd quarter. Creative Planning now owns 92,784 shares of the biopharmaceutical company’s stock worth $421,000 after acquiring an additional 17,837 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Geron by 23.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,802 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 4,094 shares during the last quarter. abrdn plc acquired a new position in shares of Geron in the 3rd quarter valued at $6,752,000. US Bancorp DE increased its stake in Geron by 68.4% in the 3rd quarter. US Bancorp DE now owns 18,296 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 7,429 shares in the last quarter. Finally, Rovin Capital UT ADV acquired a new stake in Geron during the 3rd quarter worth about $62,000. Institutional investors and hedge funds own 73.71% of the company’s stock.

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.