Geron upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Corinne Jenkins upgraded Geron to Buy from Neutral with an unchanged price target of $4. The analyst believes imetelstat is likely to be approved for the treatment of lower-risk myelodysplastic syndromes, where the firm estimates $1.5B in unadjusted peak sales. The recent approval of Reblozyl does not negate the blockbuster opportunity for imetelstat in the second-line setting, the analyst tells investors in a research note. Thus, Goldman sees the recent pullback in Geron shares as presenting a buying opportunity.