Geron Co. (GERN) Posts Quarterly Earnings Results, Meets Estimates

Geron Co. (NASDAQ:GERN) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $0.54 million for the quarter, compared to analyst estimates of $0.27 million. Geron had a negative net margin of 469.51% and a negative return on equity of 21.96%. The company’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share.

Earnings History for Geron (NASDAQ:GERN)

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY increased its position in shares of Geron by 0.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 112,793 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 732 shares during the last quarter. Tudor Investment Corp ET AL increased its position in shares of Geron by 12.1% in the first quarter. Tudor Investment Corp ET AL now owns 52,369 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 5,669 shares during the last quarter. American International Group Inc. increased its position in shares of Geron by 7.1% in the first quarter. American International Group Inc. now owns 92,964 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 6,140 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Geron by 13.3% in the third quarter. Wells Fargo & Company MN now owns 62,933 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 7,398 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Geron by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 275,028 shares of the biopharmaceutical company’s stock valued at $569,000 after buying an additional 12,078 shares during the last quarter. 37.66% of the stock is owned by institutional investors and hedge funds.

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GERN has been the topic of several research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of Geron in a research report on Thursday, March 2nd. Needham & Company LLC reissued a “hold” rating on shares of Geron in a research report on Thursday, March 2nd. FBR & Co set a $5.00 price target on shares of Geron and gave the company a “buy” rating in a research report on Thursday, March 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $2.50 price target on shares of Geron in a research report on Wednesday, April 12th. Finally, Zacks Investment Research lowered shares of Geron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.88.

Geron Company Profile

Geron Corporation (Geron) is a biopharmaceutical company, which supports the clinical stage development of a telomerase inhibitor, Imetelstat, in hematologic myeloid malignancies by Janssen Biotech, Inc (Janssen). The Company is engaged in the development of therapeutic products for oncology. Using its nucleic acid chemistry, Geron designed Imetelstat to be an oligonucleotide that binds with high affinity to the ribonucleic acid (RNA) template of telomerase, thereby directly inhibiting telomerase activity.

12 Month Chart for NASDAQ:GERN

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