Geron Corporation (NASDAQ:GERN) shares are trading lower Tuesday after FDA staff reviewers reportedly raised multiple safety concerns over Geron’s anemia drug, imetelstat.
The Details:
According to the Reuters report, FDA staff said the “clinical meaningfulness” of the clinical data was unclear and pointed to a high rate of low red blood cell counts in the study. FDA staff also reportedly said the study did not show a “disease-modifying effect.”
Geron shares are falling on heavy trading volume following the reported FDA comments. According to data from Benzinga Pro, more than 23.8 million shares have already been traded in the session, compared to the stock’s 100-day average of 7.463 million shares.
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GERN Stock Prediction 2024:
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Geron (NASDAQ:GERN) have an average 1-year price target of $4, representing an expected upside of 111.08%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Geron, while 3 analysts have bullish ratings. The street high price target from Needham is $4.
GERN Price Action: According to Benzinga Pro, Geron shares are down 18.5% at $1.75 at the time of publication.
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