Gil Blum, an analyst from Needham, maintained the Buy rating on Geron. The associated price target remains the same with $5.00.
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Gil Blum has given his Buy rating due to a combination of factors, including the strong performance of Geron’s Rytelo sales, which exceeded expectations with a notable quarter-over-quarter growth. The recent appointment of Harout Semerjian as the new CEO, who brings extensive commercial leadership experience, is also seen as a positive development for the company.
Additionally, the increased penetration of Rytelo in the first and second-line settings, alongside the anticipated continued use in the third-line setting, supports a positive outlook. The upward revision of sales estimates for Rytelo in fiscal years 2025 and 2026 further underpins the Buy rating, reflecting confidence in the company’s growth trajectory.
According to TipRanks, Blum is an analyst with an average return of -3.9% and a 37.35% success rate. Blum covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Crispr Therapeutics AG, and Nurix Therapeutics.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $4.00 price target.