Geron (NASDAQ:GERN) Given New $5.00 Price Target at Needham & Company LLC

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

Other equities analysts have also issued research reports about the company. HC Wainwright lowered Geron from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. B. Riley lowered Geron from a "buy" rating to a "neutral" rating and dropped their target price for the company from $3.50 to $2.00 in a report on Thursday. Finally, Barclays reaffirmed an "overweight" rating and set a $4.00 price target (down from $9.00) on shares of Geron in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Geron presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.68.

Geron Stock Performance

Shares of GERN stock traded down $0.05 during mid-day trading on Thursday, hitting $1.71. 26,504,408 shares of the stock were exchanged, compared to its average volume of 14,960,246. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.34 and a beta of 0.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.74 and a current ratio of 2.89. Geron has a 12-month low of $1.46 and a 12-month high of $5.34. The stock's fifty day simple moving average is $2.93 and its two-hundred day simple moving average is $3.76.

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Geron (NASDAQ:GERN - Get Free Report) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.04). Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The business had revenue of $47.54 million for the quarter, compared to analyst estimates of $45.29 million. On average, analysts forecast that Geron will post -0.25 EPS for the current year.

Institutional Trading of Geron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in shares of Geron by 23.8% during the 3rd quarter. Creative Planning now owns 92,784 shares of the biopharmaceutical company's stock valued at $421,000 after buying an additional 17,837 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Geron by 23.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,802 shares of the biopharmaceutical company's stock worth $100,000 after acquiring an additional 4,094 shares during the last quarter. abrdn plc purchased a new stake in shares of Geron in the 3rd quarter valued at approximately $6,752,000. US Bancorp DE boosted its position in Geron by 68.4% during the third quarter. US Bancorp DE now owns 18,296 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 7,429 shares during the last quarter. Finally, Rovin Capital UT ADV bought a new position in Geron during the third quarter valued at about $62,000. Hedge funds and other institutional investors own 73.71% of the company's stock.

About Geron

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.