Scotiabank Issues Pessimistic Forecast for Geron (NASDAQ:GERN) Stock Price

Geron (NASDAQ:GERN - Get Free Report) had its price objective reduced by analysts at Scotiabank from $6.00 to $4.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the biopharmaceutical company's stock. Scotiabank's target price would indicate a potential upside of 133.92% from the company's previous close.

Other research analysts also recently issued research reports about the stock. HC Wainwright downgraded shares of Geron from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price target on shares of Geron from $8.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday. B. Riley lowered shares of Geron from a "buy" rating to a "neutral" rating and decreased their price target for the company from $3.50 to $2.00 in a report on Thursday. Barclays restated an "overweight" rating and set a $4.00 price objective (down from $9.00) on shares of Geron in a report on Thursday. Finally, Needham & Company LLC cut their target price on Geron from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $5.68.

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Geron Trading Down 2.8 %

NASDAQ GERN traded down $0.05 during mid-day trading on Thursday, reaching $1.71. 26,505,180 shares of the stock were exchanged, compared to its average volume of 14,960,774. The stock has a market capitalization of $1.03 billion, a PE 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 1-year low of $1.46 and a 1-year high of $5.34. The business's fifty day simple moving average is $2.93 and its 200 day simple moving average is $3.76.

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

Institutional Investors Weigh In On Geron

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in Geron in the 4th quarter worth approximately $28,000. Integrated Wealth Concepts LLC acquired a new position in shares of Geron during the fourth quarter worth $36,000. GF Fund Management CO. LTD. acquired a new stake in Geron during the 4th quarter valued at $45,000. Fifth Lane Capital LP purchased a new stake in Geron during the 4th quarter worth $53,000. Finally, Readystate Asset Management LP acquired a new position in Geron in the 3rd quarter worth $58,000. 73.71% of the stock is currently owned by hedge funds and other 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.