"While we have advised caution ahead of a peer-reviewed release of the MF data, we can now report that the robustness of these data exceed our expectations," Needham's Chad Messer says, referencing Monday evening's imetelstat data presented by Geron (GERN) at ASH.
Messer says imetelstat "has blockbuster potential as the first treatment with the potential to induce treatment response in MF." GERN upgraded to Buy from Hold. Price target is $10.
Meanwhile, Piper is out with a bullish note as well, as analyst Charles Duncan says the imtelstat data "appears strong in terms of differentiated efficacy."
Duncan has the shares at Overweight. Price target is $10, representing "4X projected 2024 sales of imetelstat in MDS and MF, discounted at 15% to YE13."
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GERN +14% premarket