MLV Maintains Buy On Geron Following Collaboration Agreement With Janssen


In a research report issued today, MLV analyst George Zavoico maintained a Buy rating on Geron (NASDAQ:GERN) with a price target of $4.25, following the news that the company has entered into a global strategic collaboration agreement with Janssen Biotech to develop and commercialize its telomerase inhibitor, imetelstat, for treating cancer on what we think are very favorable terms.

Zavoico noted, “In our view, this agreement with a major pharma company coming just 10 days after the FDA lifted its clinical hold on imetelstat, serves to validate its potential in treating certain cancers, as shown by promising results of an ongoing Phase II trial in myelofibrosis (MF) to be updated at ASH in December. Moreover, it underscores deficiencies in the safety of JAK2 inhibitors and their inability to effect a durable response. We think imetelstat could supplant JAK2 inhibitors as the front line treatment of choice in MF.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst George Zavoico has a total average return of 1.6% and a 36.7% success rate. Zavoico has a -20.0% average return when recommending GERN, and is ranked #1809 out of 3372 analysts.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts