Geron price target lowered to $3.50 from $5.50 at B. Riley

B. Riley lowered the firm’s price target on Geron (GERN) to $3.50 from $5.50 and keeps a Buy rating on the shares. Shares have underperformed over the past three months, likely stemming from recent script flattening, as indicated by third-party week over week prescription tracking services, and possibly from waning M&A enthusiasm, the analyst tells investors in a research note. The firm expects modest growth in Rytelo sales over 12-24 months.