Gossamer Bio (NASDAQ:GOSS) Price Target Raised to $8.00

Gossamer Bio (NASDAQ:GOSS) had its target price upped by The Goldman Sachs Group from $7.00 to $8.00 in a report issued on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on GOSS. Wedbush restated an “outperform” rating and issued a $4.00 target price on shares of Gossamer Bio in a report on Friday. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Gossamer Bio in a report on Tuesday, March 18th.

Gossamer Bio Trading Down 1.0%

GOSS stock opened at $1.04 on Friday. The company has a market capitalization of $236.31 million, a PE ratio of -3.25 and a beta of 1.82. Gossamer Bio has a one year low of $0.50 and a one year high of $1.55. The company’s 50 day moving average price is $1.04 and its two-hundred day moving average price is $0.99. The company has a debt-to-equity ratio of 3.64, a quick ratio of 6.74 and a current ratio of 6.74.

Gossamer Bio (NASDAQ:GOSS) last issued its earnings results on Thursday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $9.89 million during the quarter, compared to the consensus estimate of $3.95 million. As a group, analysts predict that Gossamer Bio will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Gossamer Bio

Hedge funds have recently modified their holdings of the business. Octagon Capital Advisors LP raised its position in Gossamer Bio by 99.7% in the 4th quarter. Octagon Capital Advisors LP now owns 18,350,000 shares of the company’s stock worth $16,599,000 after buying an additional 9,162,117 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of Gossamer Bio by 52.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 8,808,514 shares of the company’s stock valued at $7,968,000 after purchasing an additional 3,041,058 shares during the last quarter. Monaco Asset Management SAM increased its position in shares of Gossamer Bio by 39.5% during the 4th quarter. Monaco Asset Management SAM now owns 5,371,641 shares of the company’s stock valued at $4,859,000 after purchasing an additional 1,520,721 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Gossamer Bio by 720.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock valued at $1,034,000 after purchasing an additional 825,047 shares during the last quarter. Finally, Allostery Investments LP purchased a new stake in shares of Gossamer Bio during the 4th quarter valued at about $555,000. 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.