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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
On Time Picks
1 Oct 14 05:26:24
nuere: $GERN I'm clearly aware of that, this comment is: nuere http://t.co/dXc8pKdNKk
On Time Picks
1 Oct 14 05:26:23
bladerunner1717: re: $GERN: bladerunner1717 http://t.co/nybwWIZaXG
Vic
1 Oct 14 02:38:15
@nuere with $GERN updating website for #Imetelstat #myelofibrosis patients will benefit with chance to live
Vic
1 Oct 14 02:30:51
RT @nuere: $GERN has updated their website and the MF hold is over, soon they will start a larger multicenter Phase 2! http://t.co/IzZWfhQ9…
Joe
1 Oct 14 00:38:45
RT @nuere: $GERN has updated their website and the MF hold is over, soon they will start a larger multicenter Phase 2! http://t.co/IzZWfhQ9…
nuere
1 Oct 14 00:37:06
$GERN has updated their website and the MF hold is over, soon they will start a larger multicenter Phase 2! http://t.co/IzZWfhQ9TJ
nuere
1 Oct 14 00:33:40
@am_vic Well, at these levels I just have to buy some more $GERN..
Joe
30 Sep 14 20:31:08
My biggest dog, $gern, keeps getting flees: http://t.co/pfBKU9B2Ch But I'll likely avg down when it goes below$2. #confessionsofabadtrader
RnM Enterprises
30 Sep 14 18:07:35
@rnmenterprises $GERN no bounce.. just one for a watchlist bottom play now.
Jamie Rushton
30 Sep 14 17:59:16
$GERN when's the next catalyst for Imetelstat?
Jamie Rushton
30 Sep 14 17:56:13
@WhiteCoatMafia how much $GERN do you own?
WhiteCoatMafia
30 Sep 14 17:52:53
@rushtonjdr Tell that to $GERN shareholders, lol. $TKMR $RTRX
equities.com
30 Sep 14 16:59:35
Geron Corp. (GERN) Drops 7.41% on September 30 $GERN http://t.co/bQr7cy0V5i
Vic
30 Sep 14 10:22:31
@nuere I thought I was loaded until $GERN revisited this price. If traders & shorts want to give this away, I'll take it ! #Imetelstat
Mark Romero
30 Sep 14 09:46:05
Zacks profiling $GERN as a positive because earnings estimates were raised from -$0.06 to $0.05? Weird thing to talk about for a spec bio
Daily Contracts
30 Sep 14 08:42:01
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
nuere
30 Sep 14 06:51:35
OK $GERN, I'm fully loaded so you can unleash Scarlett and get the move on..!!
InterCooler
30 Sep 14 03:07:56
Geron Short Interest Up 7.8% in September $GERN http://t.co/7B1rhsoEiK
US Banking News
30 Sep 14 02:40:31
Short Interest in Geron Rises By 7.8% $GERN http://t.co/Mzehk1SEpl
Major Pharma Feed
30 Sep 14 02:29:36
Short Interest in Geron Rises By 7.8% (GERN) $gern http://t.co/G0PKWuN6Aq http://t.co/eNbhYtPG7m
WKRB News
30 Sep 14 02:29:31
Short Interest in Geron Rises By 7.8% $GERN http://t.co/vMoCLGo0V3
Vic
29 Sep 14 16:01:21
RT @LeprechaunAlert: $ALCS $WAVX $NEON $FRO $IFON $RITT $NETE $GEVO $SPEX $GERN $TVIX $KWK LET THE GAMES BEGIN #GAMBLERSONLY 18+
Daily Contracts
29 Sep 14 14:09:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Daily Contracts
29 Sep 14 10:25:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
ThePennyCommand.com
29 Sep 14 07:36:22
http://t.co/K2iVTlHFf2 stocktraderva: $GERN $2.17 nice support at $2.10: stocktraderva http://t.co/ajiP657KL7 http://t.co/K2iVTlHFf2
LeprechaunAlert
28 Sep 14 23:39:37
$ALCS $WAVX $NEON $FRO $IFON $RITT $NETE $GEVO $SPEX $GERN $TVIX $KWK LET THE GAMES BEGIN #GAMBLERSONLY 18+
Joe
27 Sep 14 20:41:06
$orex $amrn $depo $thld $gern $arwr $kerx also saw significant rise in shares short.
Jason Chew
26 Sep 14 13:32:27
Imetelstat! MT @nuere: Tefferi still very skeptical about JAK inhibitors as evidenced by his latest in Leukemia $GERN http://t.co/84evwiI2Aa
Jacob Plieth
26 Sep 14 13:21:22
RT @nuere: Tefferi is still very skeptical about JAK inhibitors, as evidenced by his latest article in Leukemia $GERN http://t.co/5ajrZN6Rf2
nuere
26 Sep 14 13:17:57
Tefferi is still very skeptical about JAK inhibitors, as evidenced by his latest article in Leukemia $GERN http://t.co/5ajrZN6Rf2
Daily Contracts
26 Sep 14 11:17:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
Vic
26 Sep 14 03:38:37
RT @nuere: @Mykalt45 I remember.. here is yet another MOA to consider http://t.co/KsjhDFW3tT $GERN
nuere
26 Sep 14 02:28:53
For those thinking that the Yahoo message board poster irishtrader52 is a fake! $GERN http://t.co/5x63V3bLx1
Day Trade Alerts
25 Sep 14 12:10:14
via #AlertTrade SHORT Seller Alert $GERN - GERON #ShortSeller #Stocks http://t.co/VS8RO1bzXJ
nuere
25 Sep 14 09:44:19
@Mykalt45 that’s a very nice attitude, perhaps you now could join the coming $GERN party ;-)
Randy
25 Sep 14 06:48:11
Figures...my turd long $gern is up today
RnM Enterprises
25 Sep 14 06:45:53
$GERN, 2.23 seems to be starting a bounce... papertrading it.
nuere
25 Sep 14 05:51:22
@Mykalt45 I remember.. here is yet another MOA to consider http://t.co/KsjhDFW3tT $GERN
nuere
24 Sep 14 22:41:37
@Mykalt45 What’s your $GERN bear thesis?
Michael Torres, PhD
24 Sep 14 14:10:28
As much as I'm a $GERN bear, there's no denying that IF the drug works, it would be great for MF patients. Nice support here.
Day Trade Alerts
24 Sep 14 07:59:18
via #AlertTrade 5-min Candle Alert $GERN - GERON #daytrader #stocks http://t.co/VS8RO1bzXJ
Michael Torres, PhD
24 Sep 14 07:59:10
RT @KincoraCapital: $GERN looks interesting here. 20% off from September highs and multiple Q4 catalysts.
Kincora Capital
24 Sep 14 07:47:31
$GERN looks interesting here. 20% off from September highs and multiple Q4 catalysts.
Brenda Sharp
24 Sep 14 07:41:32
RT @WhiteCoatMafia: @rs_analytics How is it possible that a drug showing disease modifying activity will not affect sales of a drug treatin…
Vic
24 Sep 14 04:04:49
@rs_analytics you paint a very compelling picture for $GERN #Imetelstat opportunity. Acquiring a >position long term +
nuere
24 Sep 14 03:13:12
@rs_analytics I appreciated your article, I feel more confident than ever in my long thesis and will try to buy some more $GERN today
WhiteCoatMafia
23 Sep 14 17:48:25
@rs_analytics How is it possible that a drug showing disease modifying activity will not affect sales of a drug treating symptoms. $GERN
r.s_analytics
23 Sep 14 10:56:51
$GERN $INCY: I don't think Geron's Imetelstat poses any near term risk to Incyte's Jakafi franchise: http://t.co/vxnDYuAy3x
Mark Romero
23 Sep 14 10:56:01
$GERN Geron's Imetelstat: No Threat Now Or Possibly Ever To Incyte's Jakafi Franchise http://t.co/LFCClrUaht
Seeking Alpha
23 Sep 14 10:46:13
Geron's Imetelstat: No Threat Now Or Possibly Ever To Incyte's Jakafi Franchise http://t.co/pHqaq5MBTg $INCY $GERN
				
				
By  +Follow October 16, 2013 10:42AM
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