Geron (GERN) Bullish Stance Reiterated at Piper Jaffray Following Pipeline Update

Piper Jaffray analyst Charles Duncan reiterated an Overweight rating and $5 price target on Geron Corporation (NASDAQ: GERN) following a pipeline update in conjunction with its 2Q15 financial report, both of which were consistent with the firm's expectations.

Duncan commented, "In July, the Phase II study of imetelstat in MF (IMbark) opened for enrollment, and plans are for the second Phase II, in MDS, to start by YE. Both studies are being conducted by Janssen in collaboration with Geron. We anticipate an AML Phase II to start some time after the MDS study start, likely in 1H16. The company expects to complete the transfer of the imetelstat program to Janssen by the end of 3Q and recognize the full $35M upfront in revenues. While Geron appears to be active in looking for BD assets, we expect imetelstat to remain the major share driver for the next 6-12 months+ and reiterate our Overweight rating and $5 price target ahead of clinical progress from Janssen/Geron and incremental updates from prior studies."

For an analyst ratings summary and ratings history on Geron Corporation click here. For more ratings news on Geron Corporation click here.

Shares of Geron Corporation closed at $3.61 yesterday.

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