14 Best Multibagger Penny Stocks to Buy Right Now

6. Geron Corporation (NASDAQ:GERN)

Share price: $1.33

Analysts upside potential: 200.75%

Number of hedge fund holders: 37

Geron Corporation (NASDAQ:GERN) is one of the best multibagger penny stocks to buy right now. On December 11, the company announced a strategic restructuring plan to lower its operating expenses. It plans to reduce its workforce by a third as it aims to streamline operations while maintaining focus on core priorities.

The restructuring drive is scheduled to be completed in the first quarter of next year and will result in lower operating expenses in 2026. The restructuring will also result in significant cost savings starting in the first quarter. However, the company is also poised to incur cash-based expenses.

“After my first four months at Geron, the leadership team and I have assessed the business with the goal of streamlining our organizational structure to advance our strategy and create long-term value,” said Harout Semerjian, President and Chief Executive Officer of Geron.

In addition to cost savings, the company remains focused on commercializing RYTELO, its flagship treatment for anemia in adults. The company is already exploring commercial opportunities outside the US as it continues to advance a Phase 3 ImpactMF trial.

Meanwhile, analysts at H.C. Wainwright reiterated a Neutral rating on the stock, buoyed by expectations that the company’s operating expenses will drop in 2026 once the cuts are implemented. Consequently, the research firm expects the company to achieve profitability by the second half of next year.

Geron Corporation (NASDAQ:GERN) is a biopharmaceutical company focused on developing treatments for blood cancers, primarily by targeting and inhibiting the enzyme telomerase, which is crucial for cancer cell survival.