Geron (NASDAQ:GERN) Releases Quarterly Earnings Results, Hits Estimates

Geron (NASDAQ:GERN) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10), Briefing.com reports. The firm had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.34 million. Geron had a negative net margin of 38,730.00% and a negative return on equity of 68.16%. Geron’s revenue for the quarter was up 2941.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share.

Geron Stock Up 2.2 %

Shares of NASDAQ GERN opened at $4.70 on Monday. The company has a market cap of $2.79 billion, a P/E ratio of -13.43 and a beta of 0.48. The firm has a 50-day simple moving average of $4.56 and a two-hundred day simple moving average of $3.52. Geron has a 1 year low of $1.64 and a 1 year high of $5.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.67 and a quick ratio of 3.67.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price target on Geron from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 target price on shares of Geron in a report on Friday. TD Cowen began coverage on shares of Geron in a research note on Monday, April 29th. They set a “buy” rating and a $10.00 price target on the stock. Robert W. Baird cut shares of Geron from an “outperform” rating to a “neutral” rating and set a $4.50 price objective for the company. in a research note on Tuesday, April 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $8.00 price target on shares of Geron in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.07.

Insider Transactions at Geron

In related news, COO Andrew J. Grethlein sold 674,348 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $4.56, for a total transaction of $3,075,026.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Geron news, EVP Faye Feller sold 287,900 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $4.63, for a total value of $1,332,977.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew J. Grethlein sold 674,348 shares of Geron stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $4.56, for a total value of $3,075,026.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,562,248 shares of company stock worth $6,808,004. 3.10% of the stock is currently owned by company insiders.

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.