Scotiabank Cuts Geron (NASDAQ:GERN) Price Target to $4.00

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

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

Geron Stock Up 1.1 %

Shares of NASDAQ GERN opened at $1.76 on Thursday. Geron has a 12 month low of $1.46 and a 12 month high of $5.34. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.50 and a beta of 0.53. The business has a 50-day moving average of $2.93 and a 200-day moving average of $3.77.

Geron (NASDAQ:GERN) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting the consensus estimate 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%. Sell-side analysts expect that Geron will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Geron

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in shares of Geron during the fourth quarter valued at approximately $28,000. Integrated Wealth Concepts LLC bought a new position in shares of Geron during the fourth quarter valued at approximately $36,000. GF Fund Management CO. LTD. bought a new position in shares of Geron during the fourth quarter valued at approximately $45,000. Fifth Lane Capital LP bought a new position in shares of Geron during the fourth quarter valued at approximately $53,000. Finally, Readystate Asset Management LP bought a new position in shares of Geron during the third quarter valued at approximately $58,000. Institutional investors 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.