What is Leerink Partnrs’ Estimate for Geron FY2024 Earnings?

Geron Co. (NASDAQ:GERN) – Equities research analysts at Leerink Partnrs cut their FY2024 earnings estimates for shares of Geron in a note issued to investors on Monday, January 6th. Leerink Partnrs analyst F. Khurshid now expects that the biopharmaceutical company will earn ($0.29) per share for the year, down from their previous forecast of ($0.28). The consensus estimate for Geron’s current full-year earnings is ($0.25) per share. Leerink Partnrs also issued estimates for Geron’s Q4 2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.03) EPS, FY2025 earnings at $0.00 EPS and FY2026 earnings at $0.19 EPS.

Geron (NASDAQ:GERN) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The firm had revenue of $28.27 million for the quarter, compared to analysts’ expectations of $18.97 million. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The company’s quarterly revenue was up 17138.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS.

A number of other research analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Geron in a research note on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of Geron in a research note on Friday, December 13th. Barclays raised shares of Geron to a “strong-buy” rating in a report on Friday, November 29th. Finally, Scotiabank assumed coverage on Geron in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $6.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.15.

Geron Stock Up 0.6 %

Geron stock opened at $3.42 on Wednesday. The firm has a 50 day moving average price of $3.84 and a 200-day moving average price of $4.24. The company has a quick ratio of 2.74, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. Geron has a twelve month low of $1.64 and a twelve month high of $5.34. The company has a market capitalization of $2.07 billion, a P/E ratio of -10.69 and a beta of 0.55.

Institutional Investors Weigh In On Geron

A number of large investors have recently added to or reduced their stakes in GERN. Bank of New York Mellon Corp lifted its holdings in Geron by 26.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,016,622 shares of the biopharmaceutical company’s stock worth $8,550,000 after buying an additional 415,883 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Geron by 4.2% in the second quarter. Commonwealth Equity Services LLC now owns 262,324 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 10,608 shares in the last quarter. CIBC Asset Management Inc increased 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 valued at $65,000 after purchasing an additional 3,805 shares during the period. Rhumbline Advisers raised its holdings in Geron by 16.4% in the 2nd quarter. Rhumbline Advisers now owns 846,768 shares of the biopharmaceutical company’s stock worth $3,590,000 after purchasing an additional 119,550 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Geron by 403.0% in the 2nd quarter. TD Asset Management Inc now owns 1,201,200 shares of the biopharmaceutical company’s stock worth $5,093,000 after purchasing an additional 962,400 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.