In a research report issued April 20, Oppenheimer analyst Ling Wang initiated coverage on shares of Geron Corporation (NASDAQ:GERN) with an Outperform rating and price target of $5.50, which represents a potential upside of 33% from where the stock is currently trading.
Wang noted, “GERN’s flagship compound imetelstat, an inhibitor of telomerase, demonstrated disease-modifying activity in ET and MF. With the ability to address the underlying cause of the diseases, we see imetelstat having paradigmchanging potential for a variety of hematologic malignancies, which share similar disease pathophysiology and underlying causes.”
Furthermore, “We expect initial data from the pilot MDS trial and the initiation of a suite of phase II trials with partner Janssen in 2015 to drive the share price. Although imetelstat is GERN’s sole product candidate, we believe the company has necessary resources to acquire additional assets to broaden its pipeline.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ling Wang has a total average return of -2.8% and a 35.5% success rate. Wang is ranked #3076 out of 3575 analysts.