Geron (NasdaqGS:GERN) Receives Buy Recommendation: Analyst Predicts Significant Growth Ahead
On November 5, 2024, HC Wainwright & Co. began covering Geron with a Buy recommendation. This comes at a time when the company shows promising potential in the biopharmaceutical sector.
Impressive Price Target Forecast Highlights Potential for Growth
As of October 22, 2024, analysts set the average one-year price target for Geron at $7.31 per share. The estimated range spans from a low of $5.56 to a high of $10.50. Notably, this average target suggests a remarkable 72.81% upside from Geron’s latest closing price of $4.23 per share.
In light of these forecasts, Geron appears to be positioned for possible significant gains, prompting investors to monitor its performance closely.
Strong Positive Sentiment Among Funds and Institutions
A total of 431 funds and institutions currently report holdings in Geron, which reflects an increase of 30 owners, or 7.48%, over the last quarter. The average allocation of these funds to GERN stands at 0.23%, marking a 6.06% rise. Institutional shares owned saw a solid growth of 9.22% in the past three months, reaching 494,640K shares.
Currently, the put/call ratio for GERN is 0.27, signaling a bullish sentiment among investors.
Institutional Investment Insights
Ra Capital Management retains 46,202K shares, equating to 7.66% ownership, with no change in their position last quarter. Vivo Capital holds 27,225K shares, or 4.52% ownership, also steady from the previous quarter.
Darwin Global Management owns 23,915K shares for 3.97% ownership. Jefferies Financial Group has increased its stake significantly, now holding 20,030K shares, representing a 3.32% ownership. This marks a 99.08% increase from its previous holding of 183K shares, reflecting a dramatic rise in investment by 16,034.26% over the last quarter.
Additionally, Adage Capital Partners has increased its position, now holding 19,725K shares for 3.27% ownership, up from 7,200K shares—an increase of 63.50%, with a 245.29% rise in portfolio allocation.
About Geron: A Leader in Biopharmaceuticals
Geron is a clinical biopharmaceutical company focused on developing a first-in-class telomerase inhibitor, imetelstat. This drug aims to address hematologic myeloid malignancies. The company is currently conducting two Phase 3 clinical trials: IMerge, targeting lower-risk myelodysplastic syndromes, and IMpactMF, addressing refractory myelofibrosis.
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