Gil Blum, an analyst from Needham, maintained the Buy rating on Geron (GERN – Research Report). The associated price target remains the same with $5.00.
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Gil Blum’s rating is based on several factors that suggest potential growth for Geron. Despite a decline in Rytelo sales during the first quarter, there are positive indicators such as increased patient demand in April and better utilization in earlier treatment lines. These factors point to a possible improvement in sales performance in the latter half of the year.
Additionally, Geron is taking proactive steps to boost product awareness by expanding its commercial team by approximately 20%. This strategic move is expected to have a positive impact on sales later in the year. The company’s financial position remains strong with $458 million at the end of the first quarter, and they have maintained their operational expenditure guidance for the year. These elements combined have led to the Buy rating, reflecting confidence in Geron’s future prospects.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $4.00 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.
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