Zacks Downgrades Geron to Hold (GERN)
Posted on June 30, 2015 by Matt Cooper in Analyst Articles - US, Investing
Geron logoGeron (NASDAQ:GERN) was downgraded by Zacks from a “buy” rating to a “hold” rating in a researchreport issued on Tuesday, Analyst Ratings Network.com reports.
According to Zacks, “Geron, a clinical stage biopharmaceutical company, is focused on the development of a telomerase inhibitor, imetelstat. We are positive on the company’s agreement with J&J for imetelstat which provides Geron with a strong partner as well as funds. Imetelstat should move into a couple of phase II studies this year. We are also encouraged by Geron’s efforts to pursue business development deals that would expand and diversify its pipeline. However, the company’s growth prospects currently depend entirely on the successful development of imetelstat which is its sole pipeline candidate. Investor focus will remain on imetelstat-related updates as well as business development deals.”
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer reiterated an “outperform” rating on shares of Geron in a research note on Wednesday, June 17th. Separately, analysts at MLV & Co. reiterated a “buy” rating and set a $6.00 price target on shares of Geron in a research note on Saturday, May 9th.
Shares of Geron (NASDAQ:GERN) traded up 2.93% during mid-day trading on Tuesday, hitting $4.21. The stock had a trading volume of 1,852,476 shares. Geron has a 52 week low of $1.76 and a 52 week high of $4.49. The stock has a 50-day moving average of $3.94 and a 200-day moving average of $3.63. The company’s market cap is $665.55 million.
Geron (NASDAQ:GERN) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $0.54 million for the quarter, compared to the consensus estimate of $0.32 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts predict that Geron will post $-0.07 earnings per share for the current fiscal year.
Geron Corporation (NASDAQ:GERN) is a clinical stage biopharmaceutical company focused on the development of a telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. The Company operates in one segment, the discovery and development of therapeutic products for oncology. Telomerase is an enzyme that enables cancer cells, including malignant progenitor cells, to maintain telomere length, which provides a capacity for limitless, uncontrolled proliferation. Telomerase consists of two essential components: a ribonucleic acid (RNA) template (hTR), which binds to the telomere, and a catalytic subunit (hTERT) with reverse transcriptase activity, which adds a specific DNA (deoxyribonucleic acid) sequence to the chromosome ends. Using its nucleic acid chemistry, the Company designed imetelstat to be an oligonucleotide that targets and binds with high affinity to the active site of telomerase, thereby directly inhibiting telomerase activity and impeding malignant cell proliferation.
To get a free copy of the research report on Geron (GERN), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com
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