Geron price target raised to $7 from $6 at Stifel

Stifel analyst Stephen Willey raised the firm’s price target on Geron to $7 from $6 and keeps a Buy rating on the shares. The firm is increasing its FY24 and later Rytelo sales estimates following FDA’s approval of Rytelo with “a best-case product label” and management’s subsequent disclosure of Rytelo monthly pricing at an implied premium of about 15% relative to the estimate previously in the firm’s model, the analyst tells investors.