search icon
      blog search icon

      Geron Corporation (GERN) stock rises in Pre-Market: Here’s Why - Stocks Telegraph

      By Muhammad Ali

      Published on

      August 13, 2021

      11:31 AM UTC

      Geron Corporation (GERN) stock rises in Pre-Market: Here’s Why - Stocks Telegraph

      Shares of the Geron Corporation (GERN) stock were rising in the pre-market trading session on August 13, 2021. GERN stock price saw a push of 2.44% to reach $1.26 a share at the time of this writing. The stock was declining in the previous trading session and went down by 1.60% at closing. Let’s try to figure out the reason behind this rally.

      What’s Happening?

      Geron Corporation, based in Foster City, California, is the late-stage clinical biopharmaceutical stock that develops therapeutics for hematologic myeloid malignancies. There is no specific news to support the rising GERN stock price in today’s date. No press release or earnings report has been announced today to justify the bullish sentiment. The discussions related to this stock in Reddit groups might be the reason behind this rally.

      GERN stock will release its second-quarter 2021 financial results on August 16, 2021, after the market close. The expectations are not so high for GERN stock as it seems that stock year over year earnings will decline in the upcoming financial results.  The stock will rise if the earnings results beat the expectations otherwise it would fall in the upcoming days. Moreover, the management discussion on the business and market conditions will be decisive for the future growth of the stock.

      According to Zack’s consensus estimate, GERN stock will suffer a quarterly loss of $0.09 per share in Q2,2021. This means that the stock will represent a -50% year-over-year change. On the other hand, revenue is estimated at $0.08 million for the second quarter of 2021. This revenue estimate represents a 100% increase for GERN stock as compared to the prior year same quarter

      Recent Developments of GERN stock:

      GERN stock on July 17, 2021, published  IMbark Phase 2 clinical trial data in Journal of Clinical Oncology in a paper entitled, “Randomized, Single-Blind, Multicenter Phase II Study of Two Doses of Imetelstat in Relapsed or Refractory Myelofibrosis. The data published in the journal represented clinical benefits obtained from the trial. The data showed overall survival, response rate, biomarker disease-modifying activity, and bone marrow fibrosis assessments.

      GERN stock participated in Hematology Association Annual Congress and presented two posters of clinical data and analysis related to imetelstat. The posters presented efficacy, as well as the safety profile of imetelstat.

      Conclusion:

      Geron stock was climbing in pre-market despite the absence of any specific activity related to it. 5 analysts rated it as “ buy” and 12 months low price estimate is $3 and $7 for a high price target. The upcoming financial results will greatly influence the future of this stock.

      More From Stocks telegraph