Geron Corporation (GERN) saw its stock price surge 5.50% during Wednesday's trading session, following the release of its third-quarter earnings report and maintained buy ratings from analysts. The biotechnology company, which focuses on developing treatments for hematologic malignancies, has attracted investor attention despite mixed financial results.

Geron reported a quarterly adjusted loss of 3 cents per share, meeting analysts' expectations but showing a slight increase in losses compared to the same quarter last year. Revenue rose 67.1% to $47.23 million, falling short of the $52.88 million anticipated by Wall Street. Despite the revenue miss, the company's strategic initiatives and market expansion plans have kept analysts optimistic about its future prospects.

Multiple analysts have reaffirmed their buy ratings for Geron. Needham analyst Gil Blum maintained a Buy rating, citing the company's strong financial position despite a dip in Rytelo sales. TD Cowen analyst Tara Bancroft also kept a Buy rating with a price target of $4.00. The average consensus recommendation for Geron remains "buy," with Wall Street's median 12-month price target at $4.00, representing a potential 71.3% upside from its last closing price. This positive analyst sentiment, coupled with the company's ongoing development in the biotechnology sector, appears to be driving investor confidence and contributing to the stock's significant rise.