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Fly News Breaks for April 9, 2019
JNJ, GERN
Apr 9, 2019 | 06:28 EDT
Needham analyst Chad Messer upgraded Geron (GERN) to Buy with a price target of $3, saying the return of development rights for imetelstat in September by Janssen (JNJ) has created a "buying opportunity". The analyst cites the program's subsequent readouts from Phase II IMbark and IMerge studies in myelofibrosis and myelodysplastic syndrome, which he states has "established efficacy in both patient populations." Messer further contends that big pharma passing on imetelstat does not reflect a fundamental issue with the drug itself.
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