The stock market is in full swing, and one of the trending tickers of the day is a small-cap oncology company that has ties to Johnson & Johnson (NYSE:JNJ). Who’s the lucky winner? Well, it’s none other than Geron Corporation (NASDAQ:GERN).
What’s the Story, Geron Corporation?
This clinical-stage biopharma company is making majors waves today, currently trading up more than 20%. Interestingly, Geron Corporation has yet to announce any news today that would explain this sudden surge, but that hasn’t stopped the market from speculating what the reasons could be. Many believe Geron Corporation is trading up as much as it is due to investors anticipating Johnson & Johnson’s first-quarter earnings report. Mentioned briefly, Geron Corp. has ties to Johnson & Johnson. This is because it partnered with the company for the telomerase inhibitor imetelstat. As a result, a positive first-quarter on J&J’s part is likely to send Geron’s shares northward.
Johnson & Johnson is scheduled to report its Q1 earnings on Tuesday, April 17, 2018. The reason for Geron’s surge today is not solely because an earnings report is coming out next week, but rather it’s because of what the report will say. Investors are forecasting the earnings report to feature a broad clinical pipeline update, which will include an update on its top product candidate: imetelstat.
Earlier today (11:06 a.m. EDT), Geron Corporation was seen trading up by 12.7%. Now, as of 3:07 p.m. EDT, Geron Corporation is trading at $4.04. This puts the GERN stock up $0.73, or 21.87%. Meanwhile, Johnson & Johnson is currently trading up $1.23.
This is not the first headline Geron Corporation has made in the past couple of months. Today’s increase might be because of J&J but Geron Corp. definitely knows how to stand on its own two legs. For instance, Geron Corp was seen trading up almost 20% on March 21. That said, there were also a number of investigations launched into the Menlo Park, California-based company last month. The first of which was launched by Pomerantz Law Firm on March 27 and the last was launched by Faruqi & Faruqi, LLP on April 5.
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