UPDATE: Stifel Nicolaus Initiates Geron Corporation at Buy with $4 PT; Oncology Refocus Paying Off
Stifel Nicolaus initiated coverage on Geron Corporation (NASDAQ: GERN) with a Buy rating and a price target of $4 a share.
Stifel Nicolaus noted, "We anticipate positive proof-of-concept data for Geron's two oncology assets to reignite investor interest. In our opinion, six Phase 2 data readouts over the next six to nine months should validate Imetelstat and GRN1005 as compelling, differentiated oncology clinical candidates with large commercial opportunities. We believe positive news flow will yield significant stock price appreciation for GERN."
Geron Corporation closed at $2.44 on Wednesday.
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