Gil Blum, an analyst from Needham, maintained the Buy rating on Geron (GERN – Research Report). The associated price target was lowered to $5.00.
Gil Blum has given his Buy rating due to a combination of factors, primarily focusing on Geron’s strategic position in the market and the potential of its product, Rytelo. Despite a slower than anticipated product launch, Rytelo is seen as a crucial therapeutic option for RS negative MDS patients, where there are limited alternatives available. This unique positioning is expected to help Geron capture a significant market share.
Furthermore, the company’s financial health, with substantial cash reserves, supports its ability to invest in educational and outreach efforts to boost product adoption. Although there is a current flattening in new patient additions, the initial strong sales performance driven by early adopters highlights the product’s potential. Geron’s confidence in achieving profitability with its existing resources further justifies the Buy rating.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $5.00 price target.