FY2024 Earnings Forecast for Geron Issued By Leerink Partnrs

Geron Co. (NASDAQ:GERN) – Equities research analysts at Leerink Partnrs reduced their FY2024 earnings per share estimates for shares of Geron in a research report issued on Monday, January 6th. Leerink Partnrs analyst F. Khurshid now anticipates that the biopharmaceutical company will post earnings per share of ($0.29) for the year, down from their prior estimate of ($0.28). The consensus estimate for Geron’s current full-year earnings is ($0.25) per share. Leerink Partnrs also issued estimates for Geron’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.03) EPS, FY2025 earnings at $0.00 EPS and FY2026 earnings at $0.19 EPS.

Several other analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Geron in a research note on Tuesday, December 10th. Scotiabank started coverage on Geron in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price objective for the company. Barclays upgraded Geron to a “strong-buy” rating in a report on Friday, November 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 target price on shares of Geron in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.15.

Geron Stock Performance

NASDAQ:GERN opened at $3.40 on Wednesday. The company has a 50-day moving average of $3.85 and a 200-day moving average of $4.25. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -10.63 and a beta of 0.55. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04. Geron has a twelve month low of $1.64 and a twelve month high of $5.34.

Geron (NASDAQ:GERN) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. Geron had a negative return on equity of 67.53% and a negative net margin of 682.48%. The business had revenue of $28.27 million during the quarter, compared to analysts’ expectations of $18.97 million. During the same quarter last year, the business posted ($0.08) earnings per share. The company’s quarterly revenue was up 17138.4% on a year-over-year basis.

Institutional Investors Weigh In On Geron

A number of institutional investors have recently bought and sold shares of the business. National Bank of Canada FI lifted its position in shares of Geron by 1,200.0% in the second quarter. National Bank of Canada FI now owns 6,500 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 6,000 shares in the last quarter. Readystate Asset Management LP acquired a new position in Geron in the 3rd quarter valued at approximately $58,000. Rovin Capital UT ADV purchased a new stake in Geron in the 3rd quarter worth approximately $62,000. CIBC Asset Management Inc boosted its stake in shares of Geron by 32.7% during the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 3,805 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Geron during the 3rd quarter valued at $67,000. 73.71% of the stock is currently owned by institutional investors and hedge funds.

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.