Geron (GERN) Stock Price Up 5.2%

Shares of Geron Co. (NASDAQ:GERN) rose 5.2% during trading on Friday . The company traded as high as $2.06 and last traded at $2.04. Approximately 2,402,647 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 1,400,139 shares. The stock had previously closed at $1.94.

GERN has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Geron in a research note on Friday, November 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $2.50 price objective on shares of Geron in a research note on Friday, November 3rd. Zacks Investment Research raised Geron from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research note on Tuesday, October 3rd. Finally, BidaskClub raised Geron from a “strong sell” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $3.75.

Geron (NASDAQ:GERN) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.40 million. Geron had a negative return on equity of 25.14% and a negative net margin of 2,992.67%. Geron’s revenue for the quarter was down 96.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) earnings per share. sell-side analysts forecast that Geron Co. will post -0.17 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Geron during the second quarter worth $114,000. IHT Wealth Management LLC acquired a new stake in shares of Geron during the second quarter worth $122,000. Parametric Portfolio Associates LLC raised its position in shares of Geron 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 purchasing an additional 17,877 shares during the period. Zacks Investment Management acquired a new stake in shares of Geron during the second quarter worth $148,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Geron by 1.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 58,056 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 1,000 shares during the period. 39.21% of the stock is currently owned by institutional investors.

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Geron 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.

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