XLRN - Baird initiates Geron with an outperform on outlook for lead candidate imetelstat

Baird has initiated Geron (NASDAQ:GERN) with an outperform rating as it has a "strong outlook" on the company's lead agent, imetelstat, for lower risk myelodysplasia and myelofibrosis. The firm has a $4 price target on shares (~155% upside). Phase 3 results on the candidate is expected in January 2023. Analyst Joel Beatty says imetelstat appears favorable compared to Bristol-Myers Squibb (NYSE:BMY) and Acceleron's (NASDAQ:XLRN) Reblozyl (luspatercept-aamt) based on cross-trial comparisons. He adds that Reblozyl is only approved for a portion of the market that imetelstat would be. Shares are up ~4.5% in premarket trading. Read about recently published phase 2 data in imetelstat.

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Baird initiates Geron with an outperform on outlook for lead candidate imetelstat