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Geron Corp Down 2.42% To $2.02 After Earnings Beat

Wednesday, February 28, 2024 01:33 PM | InvestorsObserver Analysts

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Geron Corp Down 2.42% To $2.02 After Earnings Beat

Wednesday, February 28, 2024 - Geron Corp (GERN) reported upside earnings and downside revenues.

Geron Corp's earnings came in at an EPS loss of $0.09 per share, 10.00% higher than estimates for an EPS loss of $0.1 per share. The firm's loss per share narrowed by 10% since reporting a loss of $0.1 per share a year ago.

Consensus analyst estimates were at $70 thousand. The Healthcare company missed on those expectations for its fourth quarter with revenue of $23 thousand, a negative revenue surprise of $47 thousand (67%). The firm managed negative 78% growth year-over-year due to Geron Corp reporting quarterly revenue of $103 thousand in its year-ago quarter. Geron Corp achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 2.42% to $2.02 after the report.

Geron Corp's revenues declined at a faster pace than earnings.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Geron Corp a Bullish Sentiment Rank from InvestorsObserver.

Geron Corp has performed a little below average during the past few months. Before the report, Geron Corp received a Long-Term Technical Rank by InvestorsObserver of 44, putting it in the bottom half of stocks. The firm set a 52-week low on November 13, 2023 at $1.68 and set a 52-week high on June 9, 2023 at $3.74.

Geron Corp is a clinical-stage biopharmaceutical company focused on the research and development of cancer treatments. The company's leading drug in development, Imelstat, is being tested for the treatment of myelodysplastic syndromes, which are disorders of the blood, and myelofibrosis, which is a rare blood cancer affecting bone marrow. The company earns revenue through collaboration agreements, milestones, royalties, and licensing arrangements. Geron possesses global rights to this drug.

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