Faisal Khurshid, an analyst from Leerink Partners, reiterated the Buy rating on Geron. The associated price target remains the same with $3.00.
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Faisal Khurshid has given his Buy rating due to a combination of factors, including the promising steps Geron is taking to address challenges in launching Rytelo. The new CEO, Harout Semerjian, brings a fresh perspective and relevant experience in hematology, which could be instrumental in steering the company towards success. His proactive approach in identifying and addressing key issues in the Rytelo launch is seen as a positive move.
Additionally, Geron’s management has expressed optimism about achieving steady growth, as evidenced by their recent performance metrics. The company’s second-quarter results showed significant demand growth, which, coupled with an expanded field effort, bodes well for future performance. The management’s commitment to improving brand awareness and increasing healthcare provider confidence further supports the positive outlook for Geron’s stock.
In another report released on August 7, Barclays also maintained a Buy rating on the stock with a $4.00 price target.