Geron (NASDAQ:GERN) Price Target Lowered to $3.50 at B. Riley

Geron (NASDAQ:GERN) had its target price lowered by B. Riley from $5.50 to $3.50 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

GERN has been the topic of several other reports. Barclays raised shares of Geron to a “strong-buy” rating in a research report on Friday, November 29th. Needham & Company LLC increased their target price on shares of Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Geron in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Geron presently has an average rating of “Moderate Buy” and an average target price of $6.91.

Geron Trading Up 2.5 %

Geron stock opened at $2.63 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 2.74. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -8.20 and a beta of 0.53. Geron has a one year low of $1.64 and a one year high of $5.34. The company’s fifty day moving average price is $3.19 and its two-hundred day moving average price is $3.90.

Institutional Investors Weigh In On Geron

Hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Geron in the fourth quarter valued at about $28,000. Integrated Wealth Concepts LLC bought a new stake in shares of Geron in the fourth quarter valued at about $36,000. Fifth Lane Capital LP bought a new stake in shares of Geron in the fourth quarter valued at about $53,000. Readystate Asset Management LP bought a new stake in shares of Geron in the third quarter valued at about $58,000. Finally, Rovin Capital UT ADV lifted its stake in shares of Geron by 26.9% in the fourth quarter. Rovin Capital UT ADV now owns 17,270 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 3,660 shares during the period. Institutional investors own 73.71% of the company’s stock.

Geron Company Profile

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.