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Geron Corporation (GERN) Spikes on Upgrade

By  +Follow October 16, 2013 10:42AM
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Shares in biopharmaceutical company Geron Corporation (GERN) spiked Monday, jumping more than 35 percent on heavy volume in early trading. The primary reason for Geron’s move appears to be that banking firm MLV & Co. initiated coverage of the stock at Buy with a price target of $6.50, however the stock also appears to be benefiting from broad market optimism over what appears to be a debt deal in congress.

Analyst Recommendations Positive in Recent Months

News of Geron’s new buy rating from MLV & Co. comes on the heels of an upgrade from Thomas Reuters/Versus on Monday from Hold to Buy, and an upgrade from Piper Jaffray (PJC) from Neutral to Overweight on August 9 that set a price target of $4, a level it passed today.

Shares of Geron have been bouncing back since the company completed its divestment from a stem cell trial on October 1. The reason cited for end the trial, which halted in November of 2011, was a lack of available capital, despite widespread controversy over the stem cell issue. Geron helped fund the initial research that resulted in the initial extraction of embryonic stem cells at the University of Wisconsin in the late 1990s, giving them fundamental patent rights in the field. However, after a long battle with the FDA to get research approved in 2010, the company failed to find adequate backing for the research. The deal that closed at the start of the month with BioTime, Inc. (BTX) and Asterias Biotherapeutics (a BioTime subsidiary) completed Geron’s divestment from the research and includes 6.5 million shares of common stock from Asterias and royalties on the sale of any commercialized products for Geron.

Since reaching a 52-week low in mid-April, the stock’s shot up, with the value of shares more than quadrupling over that period.

New Call Options Show Positive Outlook for Traders

Analysts aren’t the only one buying this surge from Geron. Options traders were buying up call options on Geron, with over 20,000 sold on Wednesday. Given that typical volume on such options for Geron is about 2,400, that represents a jump in volume of over 750 percent.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for GERN
Trader News Daily
22 Sep 14 18:09:51
http://t.co/PeRPkYu8Uk ranked #1 for alerts last week with 605% in gains. Related: $PLUG $MONIF $GERN $HEMP $FITX $NTEK $FMCC $JCP $AUY
J. S.
22 Sep 14 09:39:14
In $GERN 75,000 shares at avg $2.18 for announcement of adoption of Mayo MF IND later this week or early next week.
Randy
22 Sep 14 07:37:05
$gern...epic pos
TickerChirp
21 Sep 14 09:14:05
Leading Tweets Relevant to $GERN on 09/21/2014 http://t.co/ZcNJBS5ErD
Marc Hav FX
21 Sep 14 05:41:36
$GERN GERON CORPORATION (UPDATED 21SEP2014) http://t.co/F2p0vdkzR6
Marc Hav
21 Sep 14 05:41:35
$GERN GERON CORPORATION (UPDATED 21SEP2014) http://t.co/RgJ7rC98Lv
Trader News Daily
19 Sep 14 11:23:03
$ASKH on low float accumulation watch. Related: $OREX $AMBS $AMRN $DLIA $NVAX $EAPH $BLTA $VRNG $APP $GEVO $GERN $BLDP $SCOK $CPST $GSAT
Randy
19 Sep 14 09:27:00
Reduced half $gern -11%, half $meip -7%, another 25% of $enta -2%
Josh Alex
18 Sep 14 16:18:35
RT @nuere: Fresh preclinical article on Imetelstat $GERN http://t.co/hj84kOYipu
Vic
18 Sep 14 07:15:37
@nuere it is hard to understand how any scientist or Dr in the field could not be buying $gern and investing #Imetelstat future for cancer
Vic
18 Sep 14 07:03:21
RT @nuere: Deep DD, patience and ignoring twitter noise from “experts” will soon pay off! My $GERN position is steadily increasing
Vic
18 Sep 14 07:02:35
@nuere I have to wonder how anyone could be motivated to sell even one share. Such exciting time for #Imetelstat & $GERN and cancer patients
Vic
18 Sep 14 06:43:39
RT @nuere: Fresh preclinical article on Imetelstat $GERN http://t.co/hj84kOYipu
Thomas Lynch
18 Sep 14 05:06:07
RT @nuere: Fresh preclinical article on Imetelstat $GERN http://t.co/hj84kOYipu
nuere
18 Sep 14 04:40:23
Fresh preclinical article on Imetelstat $GERN http://t.co/hj84kOYipu
FonsieTrader
18 Sep 14 04:32:30
Bearish MACD Crossovers 2/3 $FNFV $FWM $GERN $GIGA $HAL $HERO $HOG $IO $IRWD $LXRX $MCO $MRVL $MTU $NSAM $OI $PB http://t.co/PSnjwX4Dr1
Tradingcol
17 Sep 14 18:55:19
$GERN and $BEBE slapped @WallStProphet
Steph Seguin
17 Sep 14 15:39:55
$GERN like it here in this channel. http://t.co/GVQglwSVHI
Alysia Sarkisian
17 Sep 14 08:17:09
RT @SeekingAlpha: Living Longer And Making Money: Life Extending Businesses http://t.co/adULfNH1pO $ABBV $GERN $GOOG $GOOGL
Seeking Alpha
17 Sep 14 08:09:13
Living Longer And Making Money: Life Extending Businesses http://t.co/adULfNH1pO $ABBV $GERN $GOOG $GOOGL
FonsieTrader
17 Sep 14 04:23:50
Parabolic Sar Sell Signals 2/3 $FHN $FRC $FSLR $GERN $GWRE $HCBK $HSOL $IRDW $JNPR $KMX $LPI $MDVN $MPEL $MT $PBCT http://t.co/MDYVtncz7A
Daily Contracts
16 Sep 14 10:57:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/RcN7ibTRRC
nuere
16 Sep 14 00:16:16
Deep DD, patience and ignoring twitter noise from “experts” will soon pay off! My $GERN position is steadily increasing
RTA
15 Sep 14 22:51:01
I'm watching $KWK $WLT $GERN $WAC
work1411
15 Sep 14 13:24:14
@BioInvestor2013 Been watching $OPXA $OXGN $VICL $IDRA $BIOD $GERN- all been going cheaper & struggling. No entry yet.
Daily Contracts
15 Sep 14 10:45:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Daily Contracts
15 Sep 14 10:08:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Bio Penny Picks
15 Sep 14 07:18:34
$GERN Starting to look interesting.
				
				
By  +Follow October 16, 2013 10:42AM
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