Analyst Tara Bancroft from TD Cowen maintained a Buy rating on Geron 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 highlight Geron’s positive trajectory. The company’s recent financial performance, particularly the $49MM Rytelo revenue in Q2, exceeded expectations by approximately $2MM. This revenue growth is supported by an increase in new patient starts and a stable inventory, indicating strong demand for their product.
Furthermore, Geron’s strategic initiatives have shown early signs of success, with a significant rise in the number of sites utilizing Rytelo and a high re-ordering rate among existing accounts. The company’s efforts to expand its commercial and medical teams are expected to further enhance its market presence. Additionally, the shift towards earlier-line usage of Rytelo, where it is most differentiated, is anticipated to drive sustained growth. These factors collectively underpin Bancroft’s confidence in Geron’s potential, justifying the Buy rating.