Geron Corp (GERN): Cutting PT From $6 To $5 - FBR
- Wall Street opens flat as investors assess earnings
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
FBR Capital analyst, Thomas Yip, reiterated his Outperform rating on shares of Geron Corporation (NASDAQ: GERN) but cut his price target to $5 from $6 based on amendments to the Phase II IMbark trial of imetelstat for the treatment of myelofibrosis (MF). The reduced PT is due to a higher clinical risk for imetelstat and a six-month delay of the projected approval for the MF indication (from late 2021 to mid-2022).
Despite the discontinued low dose arm (4.7 mg/kg), the analyst anticipates IMbark to go on with high dose imetelstat (9.4 mg/kg) without delay.
Shares of Geron Corporation closed at $2.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Raises Price Target on T-Mobile (TMUS) to $55 Following 3Q Report
- FBR Capital Raises Price Target on HomeStreet (HMST) Following Record 3Q
- Jefferies Raises Price Target on Rambus (RMBS) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!