Hennion & Walsh Asset Management Inc. Buys 88,027 Shares of Geron Co. (NASDAQ:GERN)

Hennion & Walsh Asset Management Inc. increased its position in Geron Co. (NASDAQ:GERN) by 34.7% during the third quarter, HoldingsChannel.com reports. The firm owned 341,884 shares of the biopharmaceutical company’s stock after acquiring an additional 88,027 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Geron were worth $1,552,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GERN. Darwin Global Management Ltd. purchased a new position in Geron in the second quarter worth about $106,185,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Geron during the first quarter valued at approximately $333,000. Renaissance Technologies LLC purchased a new position in Geron in the 2nd quarter worth approximately $3,315,000. Price T Rowe Associates Inc. MD lifted its position in Geron by 999.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,064,963 shares of the biopharmaceutical company’s stock valued at $6,815,000 after acquiring an additional 1,877,184 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Geron during the 2nd quarter valued at $539,000. Institutional investors own 73.71% of the company’s stock.

Geron Stock Up 1.5 %

Shares of GERN stock opened at $4.06 on Friday. The company has a current ratio of 3.61, a quick ratio of 3.60 and a debt-to-equity ratio of 0.12. Geron Co. has a 12 month low of $1.64 and a 12 month high of $5.34. The stock has a market cap of $2.45 billion, a P/E ratio of -11.28 and a beta of 0.50. The company has a 50 day simple moving average of $4.38 and a two-hundred day simple moving average of $4.27.

Geron (NASDAQ:GERN) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.34 million. Geron had a negative return on equity of 73.79% and a negative net margin of 15,990.68%. Geron’s revenue was up 2941.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. On average, research analysts expect that Geron Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com upgraded Geron to a “sell” rating in a research note on Monday, August 5th. Leerink Partners initiated coverage on Geron in a research report on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price for the company. Leerink Partnrs raised shares of Geron to a “strong-buy” rating in a report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Geron in a report on Friday, August 9th. Finally, Scotiabank initiated coverage on shares of Geron in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Geron presently has a consensus rating of “Moderate Buy” and an average target price of $6.94.

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.