Geron (NASDAQ:GERN) Trading 4.7% Higher

Geron Co. (NASDAQ:GERN) shot up 4.7% on Wednesday . The company traded as high as $3.78 and last traded at $3.75. 961,135 shares traded hands during trading, a decline of 91% from the average session volume of 11,179,831 shares. The stock had previously closed at $3.58.

Analysts Set New Price Targets

A number of research firms have weighed in on GERN. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of Geron in a research note on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Geron in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group lifted their price objective on Geron from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, March 15th.

Geron Stock Up 1.4 %

The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $2.71 and a two-hundred day moving average of $2.23.

Geron (NASDAQ:GERN) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Geron had a negative return on equity of 63.33% and a negative net margin of 77,691.14%. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the business earned ($0.10) EPS. Geron’s revenue for the quarter was down 77.7% compared to the same quarter last year. Analysts forecast that Geron Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Geron

Several institutional investors and hedge funds have recently modified their holdings of the business. Rafferty Asset Management LLC boosted its holdings in Geron by 43.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 1,902,266 shares of the biopharmaceutical company’s stock worth $4,033,000 after buying an additional 577,422 shares during the last quarter. Jump Financial LLC boosted its holdings in Geron by 922.4% in the 3rd quarter. Jump Financial LLC now owns 831,308 shares of the biopharmaceutical company’s stock worth $1,762,000 after buying an additional 750,001 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Geron by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,405,626 shares of the biopharmaceutical company’s stock worth $22,060,000 after buying an additional 342,493 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Geron in the 3rd quarter worth about $29,000. Finally, Nan Fung Group Holdings Ltd boosted its holdings in Geron by 94.2% in the 3rd quarter. Nan Fung Group Holdings Ltd now owns 753,550 shares of the biopharmaceutical company’s stock worth $1,598,000 after buying an additional 365,550 shares during the last quarter. Hedge funds and other 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.