Analyst Gil Blum from Needham maintained a Buy rating on Geron (GERN – Research Report) and keeping the price target at $5.00.
Gil Blum has given his Buy rating due to a combination of factors including the recent European Commission approval of Rytelo for specific patient groups, which is expected to bolster Geron’s market presence in the EU. This approval enhances the drug’s clinical profile, particularly for patients with limited treatment options, and sets the stage for significant sales growth, with peak EU sales projected to reach approximately $475 million by 2037.
Additionally, the anticipated market exclusivity for Rytelo in the EU until 2038, coupled with the potential for partnerships in ex-US sales, further strengthens Geron’s long-term prospects. The transition in leadership, with the search for a new CEO underway, may also bring fresh strategic direction, potentially accelerating the company’s commercial and operational objectives.
In another report released on February 27, Stifel Nicolaus also maintained a Buy rating on the stock with a $4.00 price target.