Why Geron Stock Is Plummeting Today
(NASDAQ: GERN) stock is getting crushed in Wednesday's trading. The company's share price was down 31.7% as of 3:50 p.m. ET and had been down as much as 38.7% earlier in the session.
Geron stock is seeing huge sell-offs on the heels of the company's recent fourth-quarter report and commentary. Despite sales for the period coming in ahead of the market's expectations, the business posted a wider-than-expected loss, and investors are seeing worrying signs for the performance of the company's Rytelo drug.
Geron posted a loss of $0.04 per share on sales of $47.54 million in Q4. Meanwhile, the average analyst estimate had called for the business to post a per-share loss of $0.02 on sales of $45.3 million. Making matters worse, the company's management said that it was seeing sales growth stall for Rytelo -- the company's drug for treating symptoms of anemia.
Source Fool.com
Geron Corp. Stock
With 7 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 3 € there is potential for a 141.16% increase which would mean more than doubling the current price of 1.24 € for Geron Corp..
