Geron upgraded to "buy" - update
01/29/08 - UBS
NEW YORK, January 29 (newratings.com) - Analysts at UBS upgrade Geron Corp (GERN) from "neutral" to "buy." The 12-month target price has been reduced from $8 to $6.
In a research note published this morning, the analysts mention that the upgrade in the rating is primarily based on valuation, given the approximately 35% decline in the company's share price since end-October. A change in the US presidency, although a 2H08 event, would augur well for stem cell research initiatives and funding, which would be favourable for Geron, the analysts say. The company’s lead candidate, GRN163L, is now likely to be launched in 2012, UBS adds.... |
