Analysts Set Gossamer Bio, Inc. (NASDAQ:GOSS) Price Target at $8.50

Gossamer Bio, Inc. (NASDAQ:GOSS) has received an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.50.

A number of research analysts have commented on the stock. Wedbush increased their price objective on shares of Gossamer Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Gossamer Bio in a research note on Thursday. Wall Street Zen upgraded shares of Gossamer Bio from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group increased their price objective 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. Finally, Scotiabank assumed coverage on shares of Gossamer Bio in a report on Monday, July 14th. They set a “sector outperform” rating and a $11.00 target price on the stock.

Gossamer Bio Price Performance

GOSS opened at $3.46 on Wednesday. The company’s 50 day simple moving average is $2.08 and its 200 day simple moving average is $1.46. The company has a debt-to-equity ratio of 6.70, a quick ratio of 4.40 and a current ratio of 4.40. Gossamer Bio has a 1 year low of $0.66 and a 1 year high of $3.60. The stock has a market capitalization of $786.73 million, a PE ratio of -5.58 and a beta of 1.95.

Gossamer Bio (NASDAQ:GOSS) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $11.49 million for the quarter, compared to analysts’ expectations of $4.12 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 344.81%. As a group, sell-side analysts expect that Gossamer Bio will post -0.28 EPS for the current year.

Institutional Trading of Gossamer Bio

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Gossamer Bio by 107.2% in the fourth quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock worth $77,000 after purchasing an additional 43,866 shares during the period. Graham Capital Management L.P. acquired a new position in Gossamer Bio during the 4th quarter valued at about $32,000. Jefferies Financial Group Inc. acquired a new position in Gossamer Bio during the 4th quarter valued at about $90,000. Lazard Asset Management LLC increased its stake in Gossamer Bio by 7,992.6% during the 4th quarter. Lazard Asset Management LLC now owns 107,470 shares of the company’s stock valued at $97,000 after buying an additional 106,142 shares during the period. Finally, Millennium Management LLC increased its stake in Gossamer Bio by 14.6% during the 4th quarter. Millennium Management LLC now owns 3,586,067 shares of the company’s stock valued at $3,244,000 after buying an additional 457,179 shares during the period. 81.23% of the stock is owned by institutional investors and hedge funds.

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.