Geron initiated with an Overweight at Barclays

Barclays initiated coverage of Geron with an Overweight rating and $9 price target after Geron’s lead asset, Rytelo, was approved Thursday night for low-risk MDS with a “broad,” largely second-line label , no boxed warning, and better pricing than expected. The firm views the approval and label as supportive of peak sales of about $1.8B in MDS alone, and ultimately see sales approaching $2.7B if myelofibrosis data is positive in 2026, the analyst tells investors.