Barclays Initiates Coverage on Geron (GERN), Highlighting Novel Myelofibrosis Treatment

Barclays Initiates Coverage on Geron (GERN), Highlighting Novel Myelofibrosis Treatment

Geron Corporation (NASDAQ: GERN) has recently gained coverage from Barclays analysts, who have initiated research on the biotechnology company with an “Overweight” rating and a $15 price target.

Key Highlights of Barclays’ Analysis:

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Positive Phase III Data for IMpactMF:

Barclays highlighted the positive Phase III IMpactMF trial results for imetelstat, a novel oral treatment for myelofibrosis. The drug met its primary endpoint and demonstrated a statistically significant reduction in spleen volume. *

Growing Myelofibrosis Market:

The analysts emphasize the significant unmet medical need in the myelofibrosis market, estimating that approximately 30,000 patients in the United States and Europe are diagnosed with the disease each year. *

Competitive Landscape Analysis:

Barclays believes that imetelstat has the potential to become a best-in-class myelofibrosis treatment, offering a differentiated mechanism of action and competitive efficacy compared to currently approved drugs. *

Strong Management Team and Pipeline:

The analysts commend Geron’s experienced management team and promising pipeline, which includes other drugs in development for hematological malignancies.

Investment Thesis:

Barclays’ investment thesis for Geron is underpinned by the potential of imetelstat to address a significant unmet need in myelofibrosis. The analysts expect favorable regulatory outcomes and strong commercial prospects for the drug. Additionally, they anticipate continued pipeline advancement and potential licensing opportunities.

Market Reaction:

Following the initiation of coverage by Barclays, Geron’s stock price has gained approximately 5%. The company’s shares have been trending upward in recent months, driven by optimism surrounding the IMpactMF trial results and the potential of imetelstat.

Conclusion:

Barclays’ positive coverage of Geron underscores the company’s promising clinical data, competitive landscape, and strong management team. The analysts’ “Overweight” rating and $15 price target indicate their confidence in Geron’s potential as a leader in the treatment of myelofibrosis. Investors should continue to monitor the company’s progress, particularly the regulatory and commercialization milestones for imetelstat.Barclays Initiates Coverage on Geron with Overweight Rating and $9.00 Price Target

Barclays Initiates Coverage on Geron with Overweight Rating and $9.00 Price Target

According to a report from Benzinga, Barclays has initiated coverage on shares of Geron (NASDAQ: GERN). The brokerage firm has assigned an overweight rating and a $9.00 price target to the biopharmaceutical company.

Analyst Opinion

Barclays is bullish on Geron’s prospects, citing the potential of its lead drug candidate, imetelstat. Imetelstat is a telomerase inhibitor that is currently in Phase 3 clinical trials for the treatment of myelodysplastic syndromes and myelofibrosis.

Other Analyst Ratings

Several other equity analysts have also issued reports on Geron recently. * The Goldman Sachs Group raised its price target on shares of Geron from $4.00 to $5.00 and gave the stock a “buy” rating. * Wedbush reaffirmed an outperform rating and set a $7.00 price target on Geron shares. * Needham & Company LLC raised their target price on shares of Geron from $5.00 to $6.00 and gave the company a “buy” rating. * TD Cowen set a buy rating and a price target of €10.00 for Geron. * Stifel Nicolaus raised their price target on shares of Geron from $6.00 to $7.00 and gave the company a buy rating.

Consensus Rating

Based on data from MarketBeat, Geron has a consensus rating of Moderate Buy and an average price target of $6.93.

Geron’s Financial Performance

Geron reported its latest quarterly results on May 2. The company beat analysts’ earnings per share estimates by $0.01 and revenue estimates by $0.15 million.

Insider Transactions and Hedge Fund Activity

* CEO John A. Scarlett sold 600,000 shares of Geron for $2.4 million on June 4. * Institutional investors and hedge funds hold 73.71% of Geron’s shares.

About Geron

Geron is a late-stage clinical biopharmaceutical company that develops and commercializes therapies for myeloid hematological malignancies. Its lead drug candidate is imetelstat, a telomerase inhibitor in Phase 3 clinical trials for the treatment of myelodysplastic syndromes and myelofibrosis.Geron Corporation (NASDAQ: GERN), a clinical-stage biopharmaceutical company, has gained coverage from analysts at Barclays. The analysts have initiated coverage of Geron with an Overweight rating and a price target of $6 per share. The analysts are impressed by Geron’s lead product candidate, imetelstat, which is currently in Phase III development for the treatment of myelofibrosis. The analysts believe that imetelstat has the potential to be a best-in-class treatment for myelofibrosis, a rare and aggressive form of bone marrow cancer. The analysts also note that Geron has a strong pipeline of other product candidates, including telomelysin, which is in Phase II development for the treatment of acute myeloid leukemia. The analysts believe that Geron’s pipeline has the potential to generate significant value for shareholders in the long term. Overall, the analysts are bullish on Geron and believe that the company is well-positioned to succeed in the future. The analysts’ Overweight rating and price target of $6 per share suggest that they believe Geron’s stock is undervalued and has the potential to generate significant returns for investors.