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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for GERN
Investors Hangout
1 Aug 15 15:41:17
DUST Direxion Daily Gold Miners Bear 3x Shares Company Info http://t.co/AAcSuElTtG $DUST $VGK $GERN $WYNN #DUST #stockmarket #stocks
nasdaqfan
1 Aug 15 15:39:05
GERN Geron Corp. P/E Ratio http://t.co/wVr6bodC3h $GERN $FFIV $MON $NAT #GERN #stocks #finance
Stock_Tracker
1 Aug 15 15:39:04
GERN Geron Corp. Change http://t.co/oAn8aNpxlV $GERN $XLK $FIT $SCI #GERN #invest #share
DennyT
1 Aug 15 15:39:03
GG Goldcorp, Inc. Shares http://t.co/5drc2L1YAD $GG $VXX $GERN $XLV #GG #stock #tradeideas
Lucky Jimmy
1 Aug 15 15:38:33
GERN Geron Corp. Quotes http://t.co/VcoSKNcoOK $GERN $EVHC $PYPL $XLV #GERN #invest #pennystocks
PolgarStocks
1 Aug 15 15:32:33
ASAB Stragenics, Inc. 52Wk High http://t.co/kcV6KwkIYo $ASAB $NAT $PG $GERN #ASAB #share #investing
WatchTheFunds
1 Aug 15 14:04:02
$GERN Institutional ownership up 20.67% Q/Q, with 21,671,700 net purchase http://t.co/lS7ClAkleL http://t.co/2d1guICCrM
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1 Aug 15 11:20:36
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1 Aug 15 05:15:48
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $NOK $GERN $SALT $MHR $AKS $TRQ
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1 Aug 15 04:48:37
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $NOK $GERN $SALT $MHR $AKS $TRQ
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31 Jul 15 16:13:57
$GERN mentioned here http://t.co/t9xiNe5XVJ
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31 Jul 15 12:49:04
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31 Jul 15 12:48:34
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31 Jul 15 12:48:15
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31 Jul 15 12:46:09
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31 Jul 15 12:41:06
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31 Jul 15 12:40:05
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31 Jul 15 12:39:34
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31 Jul 15 12:39:33
HYG Horizon Pharma plc Financials http://t.co/m4xRY49wv9 $HYG $GERN $HOD.TO $SMH #HYG #invest #investing
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31 Jul 15 12:39:29
HYG iShares iBoxx High Yield Corporate Bond Fund News http://t.co/1rTuPlp45E $HYG $AMZN $SMH $GERN #HYG #stock #investing
Lucky Jimmy
31 Jul 15 12:37:50
GERN Goldcorp, Inc. Chart http://t.co/tp2hZjJ8fd $GERN $OIH $CTSH $BIDU #GERN #stock #stockmarket
jim50
31 Jul 15 12:37:06
GERN Geron Corp. Last Trade http://t.co/kDGJuLzjrw $GERN $VTI $RAD $PRXL #GERN #investing #tradeideas
nasdaqfan
31 Jul 15 12:37:04
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31 Jul 15 12:37:04
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31 Jul 15 12:36:34
GERN Geron Corp. Ex-Div Date http://t.co/75beCvlaih $GERN $RSX $CNC $OIL #GERN #investing #stock
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31 Jul 15 12:33:31
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Investors Hangout
31 Jul 15 12:33:21
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31 Jul 15 12:33:14
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31 Jul 15 12:33:12
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31 Jul 15 12:32:05
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Ryan
31 Jul 15 08:30:30
current trading account positions: $VLTC at 7.50 $GERN at 4.32 $NI at $17.10 $RAD at 8.40 $PLUG at 2.44
Wall Street
31 Jul 15 06:29:34
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $NOK $GERN $SALT $MHR $AKS $TRQ
Wall Street
31 Jul 15 06:21:09
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $NOK $GERN $SALT $MHR $AKS $TRQ
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31 Jul 15 04:57:57
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brian sweetheart
31 Jul 15 04:05:50
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clayton
31 Jul 15 03:45:14
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nasdaqfan
31 Jul 15 03:43:08
QLD ProShares Ultra QQQ Fund Last Trade http://t.co/TeqC27OQnR $QLD $EXK $GERN $GPRO #QLD #invest #investing
nasdaqfan
31 Jul 15 03:42:36
NVAX Novavax, Inc. Short Sales http://t.co/nnlM6rggu5 $NVAX $MRK $GERN $USO #NVAX #stocks #tradeideas
nasdaqfan
31 Jul 15 03:41:11
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IH News Desk
31 Jul 15 03:37:36
HTD.TO Horizons BetaPro U.S. 30-yr Bond Bear Plus ETF Financials http://t.co/T7YeNP91Ae $HTD.TO $SH $FXA $GERN #HTD.TO #investing…
jim50
31 Jul 15 03:36:38
HSD.TO Horizons BetaPro S&P 500 Bear Plus ETF Stock Forum http://t.co/dmmMcOaDUp $HSD.TO $GERN $NG $GLD #HSD.TO #investing #share
nasdaqfan
31 Jul 15 03:36:27
GERN Geron Corp. Bid http://t.co/P0ysT63WNM $GERN $ONTY $VRTX $DXJ #GERN #finance #pennystocks
Investors Hangout
31 Jul 15 03:36:25
GERN Geron Corp. Dividend http://t.co/5FD7Qa3Ahs $GERN $DUST $ASHR $JD #GERN #stock #pennystocks
jim50
31 Jul 15 03:36:19
FV First Trust Dorsey Wright Focus 5 ETF Shares http://t.co/RX6HivYAAS $FV $TWTR $GERN $SHOP #FV #share #share
Stock_Tracker
31 Jul 15 03:36:16
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jim50
31 Jul 15 03:34:42
EA Electronic Arts, Inc. EOD Data http://t.co/iHlzUp1dFn $EA $BRNE $GERN $FCNTX #EA #invest #invest
IH NASDAQ OMX
31 Jul 15 03:33:20
DIA SPDR DJ Industrial Average ETF Trust Prev Close http://t.co/OQMbSGy92Q $DIA $GERN $MNKD $ABEO #DIA #pennystocks #share
leahanne
31 Jul 15 03:31:37
ABEO Abeona Therapeutics Inc. E.P.S. http://t.co/biOYzQN6DE $ABEO $TD.TO $VHT $GERN #ABEO #stocks #stock
i am not Steve
30 Jul 15 23:05:53
RT @Vastmed: $GERN article worth reading. http://t.co/DpYx2uKxkE
veee
30 Jul 15 20:24:22
$GERN article worth reading. http://t.co/DpYx2uKxkE
				
				
By  +Follow October 16, 2013 10:42AM
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