Geron (NASDAQ:GERN) Shares Up 3.7% – Here’s Why

Geron Co. (NASDAQ:GERN) shares were up 3.7% during trading on Tuesday . The company traded as high as $3.95 and last traded at $3.95. Approximately 907,775 shares traded hands during trading, a decline of 91% from the average daily volume of 10,134,883 shares. The stock had previously closed at $3.81.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays raised Geron to a “strong-buy” rating in a research report on Friday, November 29th. Scotiabank initiated coverage on Geron in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price target on the stock. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners started coverage on shares of Geron in a research report on Monday, September 9th. They set an “outperform” rating and a $7.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Geron in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.15.

Geron Stock Performance

The company has a market cap of $2.30 billion, a PE ratio of -11.91 and a beta of 0.51. The company’s fifty day moving average price is $4.05 and its 200 day moving average price is $4.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74.

Geron (NASDAQ:GERN) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The firm had revenue of $28.27 million for the quarter, compared to analysts’ expectations of $18.97 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The company’s quarterly revenue was up 17138.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. On average, equities research analysts predict that Geron Co. will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On Geron

A number of hedge funds have recently made changes to their positions in GERN. National Bank of Canada FI grew its position in shares of Geron by 1,200.0% during 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 period. Readystate Asset Management LP purchased a new stake in Geron in the 3rd quarter worth about $58,000. Rovin Capital UT ADV purchased a new stake in Geron during the third quarter valued at about $62,000. CIBC Asset Management Inc boosted its position in Geron by 32.7% during the second quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 3,805 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Geron in the third quarter worth about $67,000. 73.71% of the stock is currently owned by institutional investors.

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.