real-time news and commentary for investors
Thursday, Mar 14
Shares of Geron (GERN -6.1%) get slammed today, despite posting a solid Q4 report after...
Shares of Geron (GERN -6.1%) get slammed today, despite posting a solid Q4 report after yesterday's close. Revenues soared by nearly 175% from the prior year period, easily topping consensus estimates. However, concerns over an ongoing investigation into lab value abnormalities from its essential thrombocythemia study, plus opaque visibility on imetelstat progress have prompted a number of firms to cut their ratings. Piper Jaffray downgraded the shares to Overweight, while mid-day yesterday Stifel Nicolaus went even further, cutting the shares to sell.