Gossamer Bio (NASDAQ:GOSS) Coverage Initiated at Scotiabank

Investment analysts at Scotiabank began coverage on shares of Gossamer Bio (NASDAQ:GOSS) in a research report issued on Monday, MarketBeat reports. The firm set a “sector outperform” rating and a $11.00 price target on the stock.

GOSS has been the topic of several other research reports. The Goldman Sachs Group upped their target price on shares of Gossamer Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, May 16th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Gossamer Bio in a research note on Tuesday, March 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $4.00 price objective on shares of Gossamer Bio in a research note on Friday, May 16th.

Gossamer Bio Stock Performance

Shares of Gossamer Bio stock opened at $1.45 on Monday. The stock has a market cap of $329.59 million, a price-to-earnings ratio of -6.30 and a beta of 1.86. The firm’s 50-day moving average is $1.23 and its 200 day moving average is $1.13. Gossamer Bio has a 1 year low of $0.66 and a 1 year high of $1.55. The company has a debt-to-equity ratio of 6.70, a current ratio of 5.71 and a quick ratio of 5.71.

Gossamer Bio (NASDAQ:GOSS) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $3.95 million. Gossamer Bio had a negative net margin of 41.12% and a negative return on equity of 128.98%. Sell-side analysts anticipate that Gossamer Bio will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Gossamer Bio

Institutional investors have recently made changes to their positions in the business. Graham Capital Management L.P. bought a new position in shares of Gossamer Bio in the 4th quarter worth approximately $32,000. Virtu Financial LLC purchased a new stake in Gossamer Bio in the 1st quarter worth approximately $38,000. Fullcircle Wealth LLC purchased a new stake in Gossamer Bio in the 4th quarter worth approximately $43,000. Invesco Ltd. purchased a new stake in Gossamer Bio in the 1st quarter worth approximately $48,000. Finally, Velan Capital Investment Management LP purchased a new stake in Gossamer Bio in the 4th quarter worth approximately $68,000. Institutional investors own 81.23% 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.