Goldman Sachs analyst Corinne Johnson has maintained their bullish stance on GERN stock, giving a Buy rating on September 19.
Corinne Johnson’s rating is based on the recent advancement in the drug Rytelo’s reimbursement process, which is likely to bolster its uptake in the healthcare market. The establishment of a permanent J-code for Rytelo by CMS is seen as a significant step in Geron Corp’s commercial strategy, particularly as it facilitates billing and reimbursement, encouraging adoption by physicians in smaller medical facilities and private practices.
Additionally, Johnson’s positive outlook is reinforced by a comprehensive analysis of hematology drug launches, insights from key opinion leaders (KOLs), and third-party data, which collectively suggest a strong potential for Rytelo to outperform near-term revenue expectations. With an anticipation of global peak sales reaching $1.2 billion and the initial sales quarters expected to be indicative of Rytelo’s market trajectory, the Buy rating reflects confidence in the drug’s significant commercial promise.
In another report released on September 19, Leerink Partners also maintained a Buy rating on the stock with a $7.00 price target.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GERN in relation to earlier this year.
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Geron (GERN) Company Description:
Geron Corp. operates as a biotechnology company. It develops a telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. The company was founded by Michael D. West on November 28, 1990 and is headquartered in Menlo Park, CA.
