Geron, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Gil Blum from Needham maintained a Buy rating on the stock and has a $4.00 price target.
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Gil Blum has given his Buy rating due to a combination of factors, despite the recent softness in Rytelo sales. Although the sales figures for Rytelo fell short of expectations, the management has identified the issue and is taking steps to address it by focusing on educational efforts, particularly within the community setting. This strategic shift is expected to enhance the commercial operations and potentially boost future sales.
Additionally, Geron’s financial position remains strong, as evidenced by their substantial cash reserves at the end of the second quarter. This financial stability provides a solid foundation for the company to implement its revised strategies and navigate the current challenges. Consequently, despite the reduction in the target price, the long-term growth prospects and strategic initiatives justify maintaining a Buy rating.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $4.00 price target.