MLV Reiterates Buy on Geron Corporation Following 1Q:15 Results
MLV analyst Thomas Yip came out with a few insights on Geron Corporation (NASDAQ:GERN) after the company reported its first-quarter results and update on its pipeline. The analyst reiterated a Buy rating on the stock, with a $6 price target, which represents a potential upside of 53% from where the stock is currently trading.
Yip noted, “Geron reiterated its target to initiate a Phase II trial of imetelstat in myelofibrosis (MF) in collaboration with Janssen (a unit of Johnson & Johnson, NYSE:JNJ; not covered) in mid-2015, and to start a Phase II trial in myelodysplastic syndromes (MDS) before year-end 2015. Based on the Phase II MF trial protocol (now available on ClinicalTrials.gov, Identifier: NCT02426086), it will evaluate imetelstat at two dosages in about 200 patients who have relapsed or are refractory to treatment with a Janus Kinase (JAK) inhibitor, and will measure spleen size and total symptom score (TSS) as the trial’s primary endpoints.”
“We think this is an encouraging sign that Geron and its partner Janssen are moving expeditiously to develop imetelstat in MF, and expect Geron to disclose more details at the company’s shareholder meeting on May 18.”, the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Thomas Yip has a total average return of -2.1% and a 28.6% success rate. Yip has a 28.8% average return when recommending GERN, and is ranked #2833 out of 3587 analysts.