Analyst Tara Bancroft from TD Cowen maintained a Buy rating on Geron (GERN – Research Report) and keeping the price target at $4.00.
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Tara Bancroft has given her Buy rating due to a combination of factors that suggest potential growth for Geron. Despite a recent decline in sales attributed to inventory adjustments, the underlying demand for Rytelo remains stable, with signs of a rebound as evidenced by a 10% increase in demand from March to April. This indicates a positive trajectory for future sales.
Moreover, Geron is proactively expanding its field teams by over 20% to enhance outreach and communication with healthcare providers. This strategic move is expected to bolster brand awareness and improve the commercial performance of Rytelo in the US market. The company’s commitment to strengthening its sales force and the early signs of demand recovery support the optimistic outlook reflected in the Buy rating.
In another report released on April 21, Leerink Partners also reiterated a Buy rating on the stock with a $3.00 price target.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GERN in relation to earlier this year.