Analysts Set Expectations for Geron Co.’s Q3 2024 Earnings (NASDAQ:GERN)

Geron Co. (NASDAQ:GERN) – Leerink Partnrs issued their Q3 2024 earnings per share estimates for shares of Geron in a report released on Monday, September 9th. Leerink Partnrs analyst F. Khurshid expects that the biopharmaceutical company will post earnings per share of ($0.09) for the quarter. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Geron’s current full-year earnings is ($0.35) per share. Leerink Partnrs also issued estimates for Geron’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.07 EPS, FY2025 earnings at $0.12 EPS and FY2026 earnings at $0.39 EPS.

GERN has been the topic of several other reports. Barclays began coverage on Geron in a research report on Monday, June 10th. They issued an “overweight” rating and a $9.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Geron in a research report on Friday, August 9th. Wedbush restated an “outperform” rating and set a $8.00 target price on shares of Geron in a research note on Thursday, August 8th. Stifel Nicolaus increased their price target on Geron from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, StockNews.com upgraded Geron to a “sell” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.06.

Geron Price Performance

NASDAQ GERN opened at $4.45 on Wednesday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -12.71 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.61 and a quick ratio of 3.60. Geron has a 1-year low of $1.64 and a 1-year high of $5.34. The business’s fifty day moving average price is $4.57 and its 200-day moving average price is $3.92.

Geron (NASDAQ:GERN) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). Geron had a negative net margin of 15,990.68% and a negative return on equity of 73.79%. The company had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.34 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 2941.4% compared to the same quarter last year.

Institutional Trading of Geron

A number of institutional investors have recently made changes to their positions in GERN. National Bank of Canada FI raised its stake in 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 valued at $28,000 after buying an additional 6,000 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of Geron by 870.0% during the first quarter. Crewe Advisors LLC now owns 9,700 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 8,700 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Geron in the 1st quarter valued at approximately $34,000. American Trust acquired a new stake in Geron in the 1st quarter worth approximately $38,000. Finally, CIBC Asset Management Inc grew its position in Geron by 32.7% during the 2nd quarter. CIBC Asset Management Inc now owns 15,438 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 3,805 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Insiders Place Their Bets

In other news, COO Andrew J. Grethlein sold 674,348 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $4.56, for a total value of $3,075,026.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

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.