Geron (NASDAQ:GERN) Issues Quarterly Earnings Results

Geron (NASDAQ:GERN) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05, Briefing.com reports. The business had revenue of $28.27 million for the quarter, compared to analyst estimates of $18.97 million. Geron had a negative return on equity of 73.79% and a negative net margin of 15,990.68%. The company’s revenue was up 17138.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share.

Geron Price Performance

Shares of GERN traded down $0.04 during mid-day trading on Friday, hitting $4.25. 12,136,906 shares of the company were exchanged, compared to its average volume of 10,462,808. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -13.28 and a beta of 0.52. Geron has a 1-year low of $1.64 and a 1-year high of $5.34. The company has a 50 day moving average of $4.32 and a 200-day moving average of $4.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.60 and a current ratio of 3.61.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price objective on shares of Geron in a research note on Friday, August 9th. Leerink Partners initiated coverage on Geron in a report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Geron in a report on Thursday, August 8th. StockNews.com upgraded Geron to a “sell” rating in a research report on Monday, August 5th. Finally, Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.05.

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.