Wedbush Equities Analysts Increase Earnings Estimates for Geron Co. (NASDAQ:GERN)

Geron Co. (NASDAQ:GERNFree Report) – Investment analysts at Wedbush increased their Q1 2024 earnings estimates for Geron in a report issued on Tuesday, March 19th. Wedbush analyst R. Driscoll now expects that the biopharmaceutical company will earn ($0.09) per share for the quarter, up from their prior estimate of ($0.10). Wedbush currently has a “Outperform” rating and a $6.00 price target on the stock. The consensus estimate for Geron’s current full-year earnings is ($0.34) per share. Wedbush also issued estimates for Geron’s Q3 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.03) EPS, FY2026 earnings at $0.16 EPS and FY2027 earnings at $0.45 EPS.

GERN has been the subject of several other research reports. Needham & Company LLC boosted their target price on shares of Geron from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, March 15th. The Goldman Sachs Group boosted their target price on shares of Geron from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, March 15th.

Check Out Our Latest Research Report on Geron

Geron Trading Down 0.6 %

NASDAQ:GERN opened at $3.31 on Friday. The stock has a fifty day moving average price of $2.17 and a two-hundred day moving average price of $2.07. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -10.03 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.16 and a current ratio of 3.16. Geron has a 1 year low of $1.64 and a 1 year high of $3.73.

Geron (NASDAQ:GERNGet Free Report) last posted its quarterly earnings data 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. The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.06 million. Geron had a negative return on equity of 63.33% and a negative net margin of 77,691.14%. The company’s revenue was down 77.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share.

Hedge Funds Weigh In On Geron

Hedge funds and other institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. raised its position in shares of Geron by 46.5% in the 3rd quarter. RA Capital Management L.P. now owns 46,202,425 shares of the biopharmaceutical company’s stock valued at $97,949,000 after purchasing an additional 14,657,619 shares in the last quarter. BlackRock Inc. grew its stake in Geron by 14.2% during the 2nd quarter. BlackRock Inc. now owns 35,977,982 shares of the biopharmaceutical company’s stock worth $115,489,000 after buying an additional 4,479,227 shares during the last quarter. Vanguard Group Inc. grew its stake in Geron by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 28,564,574 shares of the biopharmaceutical company’s stock worth $60,271,000 after buying an additional 1,914,328 shares during the last quarter. State Street Corp grew its stake in Geron by 29.7% during the 1st quarter. State Street Corp now owns 25,557,601 shares of the biopharmaceutical company’s stock worth $55,460,000 after buying an additional 5,845,412 shares during the last quarter. Finally, Vivo Capital LLC grew its stake in Geron by 46.1% during the 4th quarter. Vivo Capital LLC now owns 24,143,681 shares of the biopharmaceutical company’s stock worth $50,943,000 after buying an additional 7,619,047 shares during the last quarter. 65.44% of the stock is owned by institutional investors and hedge funds.

About Geron

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Geron (NASDAQ:GERN)

Receive News & Ratings for Geron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Geron and related companies with MarketBeat.com's FREE daily email newsletter.