Needham & Company LLC Cuts Geron (NASDAQ:GERN) Price Target to $5.00

Geron (NASDAQ:GERN) had its target price reduced by Needham & Company LLC from $7.00 to $5.00 in a research note issued to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on GERN. Barclays restated an “overweight” rating and set a $4.00 price objective (down previously from $9.00) on shares of Geron in a research note on Thursday. B. Riley cut Geron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $3.50 to $2.00 in a research note on Thursday. Finally, HC Wainwright cut Geron from a “buy” rating to a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Geron currently has an average rating of “Moderate Buy” and an average price target of $5.68.

Geron Trading Up 1.1 %

Shares of GERN opened at $1.76 on Thursday. The stock’s 50-day moving average is $2.93 and its two-hundred day moving average is $3.77. The stock has a market cap of $1.06 billion, a PE ratio of -5.50 and a beta of 0.53. Geron has a 12 month low of $1.46 and a 12 month high of $5.34. 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 issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $47.54 million for the quarter, compared to analysts’ expectations of $45.29 million. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. Equities analysts forecast that Geron will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Geron

Several hedge funds and other institutional investors have recently bought and sold shares of GERN. SBI Securities Co. Ltd. bought a new stake in Geron in the fourth quarter valued at about $28,000. Integrated Wealth Concepts LLC bought a new stake in Geron in the fourth quarter valued at about $36,000. GF Fund Management CO. LTD. bought a new stake in Geron in the fourth quarter valued at about $45,000. Fifth Lane Capital LP bought a new stake in Geron in the fourth quarter valued at about $53,000. Finally, Readystate Asset Management LP bought a new stake in Geron in the third quarter valued at about $58,000. 73.71% of the stock is 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.