HC Wainwright Begins Coverage on Geron (NASDAQ:GERN)

Stock analysts at HC Wainwright initiated coverage on shares of Geron (NASDAQ:GERN) in a research note issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $8.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 88.24% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a report on Monday, September 9th. StockNews.com raised Geron to a “sell” rating in a report on Monday, August 5th. Leerink Partners began coverage on Geron in a research report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price target on the stock. Scotiabank initiated coverage on Geron in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Geron in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.05.

Geron Stock Performance

NASDAQ:GERN opened at $4.25 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.60 and a current ratio of 3.61. The firm’s 50-day moving average is $4.35 and its 200-day moving average is $4.29. Geron has a 52-week low of $1.64 and a 52-week high of $5.34. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -11.81 and a beta of 0.52.

Geron (NASDAQ:GERN) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The business had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $0.34 million. Geron had a negative return on equity of 73.79% and a negative net margin of 15,990.68%. Geron’s quarterly revenue was up 2941.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. Equities research analysts anticipate that Geron will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Geron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GERN. National Bank of Canada FI increased its stake in shares of Geron by 1,200.0% in the 2nd quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 6,000 shares during the last quarter. Crewe Advisors LLC grew its position in shares of Geron by 870.0% in the 1st quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 8,700 shares during the period. Kingsview Wealth Management LLC bought a new stake in Geron during the 1st quarter worth approximately $34,000. American Trust bought a new position in Geron in the first quarter valued at approximately $38,000. Finally, Rovin Capital UT ADV bought a new stake in shares of Geron during the third quarter worth $62,000. Institutional investors own 73.71% of the company’s stock.

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.