Geron Corporation (GERN) Trading Up -2.7% Following Strong Earnings

Geron Corporation (NASDAQ:GERN)’s share price was up 2.7% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $2.34 and last traded at $2.19. Approximately 1,047,934 shares changed hands during trading, a decline of 7% from the average daily volume of 1,125,650 shares. The stock had previously closed at $2.25.

The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.40 million. Geron Corporation had a negative return on equity of 21.30% and a negative net margin of 433.72%. Geron Corporation’s revenue for the quarter was down 96.8% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share.

Several analysts have commented on GERN shares. Zacks Investment Research lowered Geron Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. FBR & Co reissued a “buy” rating on shares of Geron Corporation in a report on Tuesday, July 4th. Finally, BidaskClub lowered Geron Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Geron Corporation presently has a consensus rating of “Hold” and a consensus price target of $3.75.

Several large investors have recently modified their holdings of GERN. Russell Investments Group Ltd. acquired a new stake in shares of Geron Corporation in the second quarter worth approximately $114,000. Tudor Investment Corp ET AL lifted its position in Geron Corporation by 12.1% during the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 5,669 shares in the last quarter. IHT Wealth Management LLC purchased a new position in Geron Corporation during the second quarter worth approximately $122,000. Parametric Portfolio Associates LLC lifted its position in Geron Corporation by 59.4% during the second quarter. Parametric Portfolio Associates LLC now owns 47,976 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 17,877 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Geron Corporation by 26.5% during the first quarter. Bank of America Corp DE now owns 65,403 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 13,698 shares in the last quarter. 38.78% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Geron Corporation (GERN) Trading Up -2.7% Following Strong Earnings” was published by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.com-unik.info/2017/11/01/geron-corporation-gern-trading-up-2-7-following-strong-earnings.html.

Geron Corporation Company Profile

Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.

What are top analysts saying about Geron Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Geron Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit