Q2 2024 EPS Estimates for Gossamer Bio, Inc. (NASDAQ:GOSS) Raised by Analyst

Gossamer Bio, Inc. (NASDAQ:GOSS) – Stock analysts at Wedbush raised their Q2 2024 earnings per share (EPS) estimates for Gossamer Bio in a research report issued to clients and investors on Monday, May 6th. Wedbush analyst L. Chico now expects that the company will post earnings per share of $0.51 for the quarter, up from their previous forecast of ($0.20). Wedbush currently has a “Outperform” rating and a $4.00 target price on the stock. The consensus estimate for Gossamer Bio’s current full-year earnings is ($0.75) per share. Wedbush also issued estimates for Gossamer Bio’s FY2024 earnings at ($0.10) EPS, FY2027 earnings at ($0.69) EPS and FY2028 earnings at ($0.51) EPS.

A number of other equities analysts have also weighed in on GOSS. The Goldman Sachs Group reduced their price objective on Gossamer Bio from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Gossamer Bio in a research report on Monday. Finally, Piper Sandler reissued an “overweight” rating and issued a $15.00 price target on shares of Gossamer Bio in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.65.

Gossamer Bio Trading Up 3.3 %

NASDAQ GOSS opened at $0.76 on Thursday. Gossamer Bio has a 1 year low of $0.45 and a 1 year high of $1.88. The company has a debt-to-equity ratio of 3.14, a current ratio of 5.94 and a quick ratio of 5.94. The company has a market capitalization of $170.89 million, a PE ratio of -0.54 and a beta of 1.84. The company has a fifty day moving average of $1.08 and a 200 day moving average of $0.93.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21).

Hedge Funds Weigh In On Gossamer Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOSS. Octagon Capital Advisors LP increased its stake in shares of Gossamer Bio by 12.2% during the fourth quarter. Octagon Capital Advisors LP now owns 9,187,883 shares of the company’s stock worth $8,384,000 after purchasing an additional 1,000,000 shares in the last quarter. ARCH Venture Management LLC acquired a new stake in Gossamer Bio in the 3rd quarter worth about $6,709,000. Platinum Investment Management Ltd. increased its stake in Gossamer Bio by 29.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 6,954,110 shares of the company’s stock worth $6,346,000 after buying an additional 1,596,332 shares in the last quarter. Palo Alto Investors LP raised its holdings in shares of Gossamer Bio by 88.5% during the third quarter. Palo Alto Investors LP now owns 6,530,288 shares of the company’s stock valued at $5,438,000 after acquiring an additional 3,065,136 shares during the last quarter. Finally, Silverarc Capital Management LLC purchased a new position in shares of Gossamer Bio in the third quarter valued at approximately $5,105,000. 81.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Faheem Hasnain sold 23,172 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.16, for a total value of $26,879.52. Following the completion of the transaction, the chief executive officer now owns 120,293 shares of the company’s stock, valued at approximately $139,539.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 33,620 shares of company stock worth $39,682 in the last ninety days. Company insiders own 5.00% of the company’s stock.

About Gossamer Bio

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing seralutinib for the treatment of pulmonary arterial hypertension (PAH) in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colony-stimulatin factor 1 receptor and c-KIT inhibitor, which is in Phase 3 clinical trial for the treatment of PAH.