Geron (NASDAQ:GERN) Given New $3.50 Price Target at B. Riley

Geron (NASDAQ:GERN) had its target price reduced by research analysts at B. Riley from $5.50 to $3.50 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. B. Riley’s price target would suggest a potential upside of 33.33% from the stock’s current price.

Several other analysts have also issued reports on the company. Needham & Company LLC upped their target price on Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays upgraded Geron to a “strong-buy” rating in a research note on Friday, November 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Geron in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Geron presently has a consensus rating of “Moderate Buy” and an average target price of $6.91.

Geron Stock Up 2.5 %

GERN stock traded up $0.07 during midday trading on Tuesday, hitting $2.63. The company’s stock had a trading volume of 15,598,745 shares, compared to its average volume of 11,753,566. The company’s fifty day moving average price is $3.21 and its 200 day moving average price is $3.91. Geron has a twelve month low of $1.64 and a twelve month high of $5.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. The stock has a market capitalization of $1.59 billion, a P/E ratio of -8.20 and a beta of 0.53.

Institutional Trading of Geron

Several hedge funds and other institutional investors have recently modified their holdings of GERN. RTW Investments LP acquired a new stake in Geron during the third quarter worth approximately $200,268,000. Nvest Financial LLC bought a new position in shares of Geron during the fourth quarter worth approximately $693,000. Janus Henderson Group PLC lifted its holdings in Geron by 140.0% during the 3rd quarter. Janus Henderson Group PLC now owns 22,565,846 shares of the biopharmaceutical company’s stock worth $102,193,000 after purchasing an additional 13,163,889 shares during the last quarter. Barclays PLC boosted its stake in Geron by 114.9% in the 3rd quarter. Barclays PLC now owns 1,299,912 shares of the biopharmaceutical company’s stock valued at $5,902,000 after purchasing an additional 694,931 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Geron in the 3rd quarter valued at $1,102,000. 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.