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Geron Corporation (GERN) Spikes on Upgrade

By  +Follow October 16, 2013 10:42AM
Tickers Mentioned:

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
22 Oct 14 22:22:44
Spectra7, a leading edge #virtualreality chip company. Revenue growth of 170%, margins 80%: http://t.co/s3Pai7Fx89 $KING $GILD $GERN $HEB
22 Oct 14 14:07:41
$GERN Why You Shouldn't Bet Against Geron Corporation (GERN) Stock http://t.co/kqzUPnBpDC #BiotechTraderHandbook--> http://t.co/0qUXjBVYVt
22 Oct 14 10:32:42
@WhiteCoatMafia In 106,200 shares $GERN @ $2.15 avg
Josh Alex
22 Oct 14 06:44:37
$GERN r/g
Josh Alex
22 Oct 14 05:35:03
RT @bkfViking123: $gern wedge watch list http://t.co/7DKPv8UjBr
21 Oct 14 20:03:50
RT @AndyBiotech: $STML New Study of SL-401(Anti-CD123 conjugate) in High Risk Myeloproliferative Neoplasms at Mayo Clinic http://t.co/TEXRn…
21 Oct 14 15:45:59
Wed watch chart: $GERN, $VPCO, $ETAK, $ACCO, $ANH, $DCT, $DHX, $HT, $MFA, $MDXG
Andy Biotech
21 Oct 14 11:39:35
$STML New Study of SL-401(Anti-CD123 conjugate) in High Risk Myeloproliferative Neoplasms at Mayo Clinic http://t.co/TEXRnTAn8C $GERN $INCY
21 Oct 14 11:33:15
Sector updates $GERN active at -1.38% #trading #BiotechTraderHandbook--> http://t.co/mslgnVx6Fu
Valeriu Crainic
21 Oct 14 03:45:50
Watchlist for today: $UPRO $GERN $AAPL
Bryon Franzen
21 Oct 14 03:32:12
$gern wedge watch list http://t.co/7DKPv8UjBr
Stocks News&Markets
20 Oct 14 22:20:33
Nate made $3,841 on $GERN -Check it out! http://t.co/2Cjh3YFt5l Learn #howtotrade http://t.co/axK8SMSgo9 $NRZ $SCOK $ESI $EDMC $SHLD
20 Oct 14 11:37:07
My top holdings are an ugly potpourri. But seems to be working? $enta $mnta $gern $cynaf $achn (closed today) $sds $pcyc
Josh Alex
20 Oct 14 06:40:48
Colin Macleod
19 Oct 14 16:35:55
Plenty of Dark Clouds hitting the market Friday here are the ones to slap shorts on http://t.co/immvsA3P2A $CLDX $NCT $NNN $SRC $GERN
18 Oct 14 14:54:03
The Most Popular Tweets About $GERN (GERON CORP symbol gern) on 10/18/2014 http://t.co/4eOmDw8xGk
17 Oct 14 16:41:03
@WhiteCoatMafia Adam, major stones to be 'all out' of $GERN even short term...
Mark Romero
17 Oct 14 08:36:18
$GERN Breaking down.
Mark Romero
17 Oct 14 06:15:00
$GERN On watch today.
17 Oct 14 00:59:19
Geron Corp. (GERN) Jumps 6.28% on October 16 $GERN http://t.co/hPDUAlB0tl
16 Oct 14 21:24:28
Fri watch: Momo: $IVAN, $ACI, $ANR, $NVAX Chart: $AGEN, $PTX, $RDNT, $ROX, $XNPT, $GERN
S Manian
16 Oct 14 18:28:19
RT @afmarko99: Looks like $GERN is working on a Bull Flag setup on the 6 month chart.
S Manian
16 Oct 14 18:28:17
RT @nixon786: $GERN dec / jan call active
16 Oct 14 18:14:21
$GERN dec / jan call active
16 Oct 14 13:12:03
$GERN overall option implied volatility of 134 is above its 26-week average of 106 according
Mark Romero
16 Oct 14 12:43:07
Looks like $GERN is working on a Bull Flag setup on the 6 month chart.
16 Oct 14 11:18:55
$GERN up 4.8% to 2.17 bullish setup alert #stocks #options #markets http://t.co/8b1slJOZNw
16 Oct 14 11:12:01
@WhiteCoatMafia Up $25,000 from yesterday's notice of a broad small cap rebound paired with the $GERN technical break upwards.
16 Oct 14 09:42:06
Sector update: $GERN active at +3.43% #options #BiotechTraderHandbook--> http://t.co/QvDIRU65Zv
16 Oct 14 09:40:06
Sector updates $GERN priced +3.86% # $IBB #BiotechTraderHandbook--> http://t.co/QvDIRU65Zv
Analyst Ratings
16 Oct 14 09:20:45
Want automatic email alerts for $EPIQ $GERN $SMP $HSOL $INUV? Subscribe to ARN Daily http://t.co/nSJuDsYidj
16 Oct 14 06:56:06
We like this stock $GERN http://t.co/1Dsa0gAGxq
16 Oct 14 03:58:54
Parabolic Sar Buy Signals $ELX $EXEL $EZPW $FAF $FCEL $FLIR $GERN $GEVA $GOGO $GRMN $HALO $HILL $HL $IMPV $INFN http://t.co/TOJ0AWJnBx
16 Oct 14 03:56:19
Bullish MACD Crossovers $ACI $AMCC $AXLL $BLL $BTU $BWA $CERS $CLF $COH $CSX $ESV $GERN $GNRC $HL $HLSS $ICON $IRDW http://t.co/FwxJIrbKU6
15 Oct 14 18:46:38
Thurs watch: Momo: $VSR, $MNKD, $JASO, $PTX, $GERN, $MDXG Chart: $QLYS, $ACI, $ARC, $AMCN, $ANGI, $SCLN Maybe: $OSUR, $CBMX
15 Oct 14 16:40:31
$GERN ended the second quarter of 2014 with $147.6 million in cash and investments.
Steph Seguin
15 Oct 14 16:12:15
$GERN nice channel breakout. http://t.co/RbLPWwnwnM
15 Oct 14 15:02:16
$GERN another example of a range break in a weak tape You have to have a plan when you trade. Spot the break points and anticicpate.
15 Oct 14 13:05:06
@WhiteCoatMafia Classic technical play on $GERN entry at $1.93, broke resistance and ended at $2.07. http://t.co/0QOl3Sq5mu
Josh Alex
15 Oct 14 13:04:28
$GERN Nice close
15 Oct 14 12:49:04
$GERN trading at +6.42% # $XBI #BiotechTraderHandbook--> http://t.co/QvDIRU65Zv
The Cardiac Kid
15 Oct 14 12:43:51
pkdaddy64: $GERN, steady up up up!!!: pkdaddy64 http://t.co/Yd0KvvLla6
15 Oct 14 12:40:59
$GERN nice way to end day
15 Oct 14 12:36:25
$GERN push 2
15 Oct 14 11:12:41
@WhiteCoatMafia Market getting murdered but $GERN flagging and breaking upward resistance. Will it hold above $1.95? http://t.co/bgh4BpNJHv
15 Oct 14 09:59:07
Will we see a sneaky shift into the grossly oversold small caps as the broad market sells off? In $GERN @ $1.93 http://t.co/rON8tDtYB1
Daily Contracts
15 Oct 14 07:25:02
Real-Time feed of company contracts, original agreements and executive updates from Geron Corp $GERN http://t.co/wTQOzGKSiE
By  +Follow October 16, 2013 10:42AM



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