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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.

Results for GERN
Money Wizard
16 Apr 14 18:19:45
$GERN Are These Three Biot http://t.co/mNh3vbAn1H
jake
16 Apr 14 18:15:27
Watchlist for thursday Watchlist is up http://t.co/PpJyYQPqfQ $MINE $GS $BCCI $NASV $GERN $GRNH $NFLX
Sideways
16 Apr 14 18:15:23
RT @stockgarage: $MINE looking for .02c break tomorrow with .03c target . Watchlist is up http://t.co/RySdrqqiQ8 $MINE $GS $BCCI $NASV $GER…
Ron Steckly
16 Apr 14 17:52:53
@shaneblackmon why is $gern a shit biotech? They didn't do p & d
BLAZING VOLTz
16 Apr 14 16:44:14
RT @nuere: Rebuilding a large $GERN position, feels like good risk reward here!
Kamren Martinez
16 Apr 14 14:00:29
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/CYu53Na8L2
Clinton Majors
16 Apr 14 13:34:17
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/tc2U80g8UW
BATTLE THE BTK
16 Apr 14 12:56:25
@ColfaxCapital @cnnbrk must have been long $acad $tkmr $alny $gern
Shane Blackmon
16 Apr 14 09:33:11
The shit biotechs starting to run lol $GALE $GERN $INO
nuere
16 Apr 14 07:26:11
Rebuilding a large $GERN position, feels like good risk reward here!
NASDAQ Bridge
16 Apr 14 05:43:07
$GERN Are These Three Biot http://t.co/aWx16Noglm
ken flagg
16 Apr 14 04:56:46
$GERN I WILL BUY FIVE HUNDRED MORE SHARES TODAY
Ford Cadwell
16 Apr 14 03:33:34
$GERN SHAREHOLDER ALERT: Pome http://t.co/pB3FQrkaIu
Scott Thomas
15 Apr 14 23:14:28
RT @Drchik23: Meant to add the link.Here it is for short interest: http://t.co/vXYOUqmHUm $arna $mnkd $myg $arwr $gern $srpt $enta $zgnx $p…
Andrew Colburn
15 Apr 14 21:30:51
RT @Drchik23: Meant to add the link.Here it is for short interest: http://t.co/vXYOUqmHUm $arna $mnkd $myg $arwr $gern $srpt $enta $zgnx $p…
Joe
15 Apr 14 21:05:25
Meant to add the link.Here it is for short interest: http://t.co/vXYOUqmHUm $arna $mnkd $myg $arwr $gern $srpt $enta $zgnx $pdli $gale $xoma
Joe
15 Apr 14 20:54:28
Largest % short interest inc last period: $oxgn $gern $ptx $dyax $arwr $ctic $abmd $xoma $enta Looks like shorts saw this coming...
Mike Lansing
15 Apr 14 19:43:12
$GERN SHAREHOLDER ALERT: Pome http://t.co/m3gvisvjOj
Robert
15 Apr 14 18:20:20
RT @afmarko99: Speak Life.... http://t.co/2cXfFgvsRA why? Because today sucked & tomorrow has to be better. $ARIA $IBB $GERN $RNN #biotech
Genie Pike
15 Apr 14 15:05:25
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/rzaIL9FpxN
Mark Romero
15 Apr 14 13:41:47
Speak Life.... http://t.co/2cXfFgvsRA why? Because today sucked & tomorrow has to be better. $ARIA $IBB $GERN $RNN #biotech
JD Dollar
15 Apr 14 12:57:43
$GERN SHAREHOLDER ALERT: Pome http://t.co/ZueKjSjivW
Wes Martinez
15 Apr 14 12:11:01
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/VYMCOgeC6b
teevee
15 Apr 14 10:29:06
$GERN and $NBIX
Marin Calderon
15 Apr 14 06:45:27
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/nMI0QGTAol
Franco Clark
15 Apr 14 04:26:18
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/YodlUB1OBL
Cornelia Henke
15 Apr 14 02:30:41
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/qgBegcCjh4
Alistair Alexander
14 Apr 14 14:00:25
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/HIY2cOuKZP
Joe Prete, Pharm.D.
14 Apr 14 13:52:03
Look at the $GERN chart today and try to understand it.... http://t.co/qLU4tNZd1X
Fletcher Roch
14 Apr 14 13:50:45
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/7PH9smBG2X
Jama Dahl
14 Apr 14 13:49:42
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/x2utQxM4Yw
Laird Cabrera
14 Apr 14 12:08:02
$GERN SHAREHOLDER ALERT: Pome http://t.co/ytrTfePH7G
Wanetta Zhang
14 Apr 14 11:53:25
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/Ki3GPWvck5
12Stocks.com
14 Apr 14 08:50:44
Smallcap #Stocks Performance $GDP $WBMD $CHDX $HK $BEBE $FLDM $CRK $KOP $GERN $BTX $AFFX $SN $HIFS more@ http://t.co/jIGfl7ofoU
GavinGreenberg
14 Apr 14 08:42:10
$GERN: Are These Three Biotech Companies Still Worth A Gamble? http://t.co/nfGYYuidob
Jakobe Greyson
14 Apr 14 08:40:28
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/qE5WPNo0Ri
stocknews247
14 Apr 14 08:32:26
$GERN - Are These Three Biotech Companies Still Worth A Gamble? -> http://t.co/jeAUw3cw1X #stock #stocks #stockaction
Vern Sonnenberg
14 Apr 14 08:27:36
$GERN Are These Three Biotech Companies Still Worth A Gamble? http://t.co/JZRdU0U8Zv
Vern Sonnenberg
14 Apr 14 08:22:06
$GERN Special News: Geron Corporation (NASDAQ:GERN), Mast Therapeutics Inc ... http://t.co/cBqu7JG9Dl
Mani
14 Apr 14 08:17:20
RT @SeekingAlpha: Are These Three Biotech Companies Still Worth A Gamble? http://t.co/M48MYaGbi8 $GALE $PRAN $GERN
Seeking Alpha
14 Apr 14 08:16:12
Are These Three Biotech Companies Still Worth A Gamble? http://t.co/M48MYaGbi8 $GALE $PRAN $GERN
Hart Gunner
14 Apr 14 08:11:39
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/8t1sziD6J8
Esau Harrisonjoy
14 Apr 14 08:09:29
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/OsvKZoSEK5
Lars Anders
14 Apr 14 03:04:54
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/1f6Sgwb9Uz
Mind Equity
14 Apr 14 03:02:17
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/xOasNCXreY
Penny Stocks Blog
13 Apr 14 16:34:43
RT @StockAviator: Welcome new Premium Members! This should be a fun week. Related: $ERBB $FITX $GERN $PHOT $MJNA $FRTD $FTR $HEMP $SKTO $…
North Carter
13 Apr 14 15:18:42
$GERN SHAREHOLDER ALERT: Pomerant http://t.co/PLw1eDE77a
StockAviator.com
13 Apr 14 14:27:26
Welcome new Premium Members! This should be a fun week. Related: $ERBB $FITX $GERN $PHOT $MJNA $FRTD $FTR $HEMP $SKTO $MNKD #PENNYSTOCKS
				
				
By  +Follow October 16, 2013 10:42AM
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