Gossamer Bio (NASDAQ:GOSS) Upgraded to “Buy” by Zacks Investment Research

Gossamer Bio (NASDAQ:GOSSGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm presently has a $8.25 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 11.79% from the company’s previous close.

According to Zacks, “Gossamer Bio Inc. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutics in the areas of immunology, inflammation and oncology. The company’s product pipeline includes GB001, GB002, GB004, GB1275, Autoimmune program and Oncology program which are in clinical stage. Gossamer Bio Inc. is based in San Diego, California. “

Other equities research analysts have also recently issued reports about the stock. HC Wainwright dropped their target price on shares of Gossamer Bio from $25.00 to $20.00 in a research report on Tuesday, April 26th. Raymond James decreased their price target on shares of Gossamer Bio from $19.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, April 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Gossamer Bio in a research note on Monday, May 9th. UBS Group initiated coverage on shares of Gossamer Bio in a research note on Wednesday, April 6th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Barclays decreased their price target on shares of Gossamer Bio from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, April 26th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.47.

Shares of NASDAQ:GOSS traded down $0.07 on Thursday, hitting $7.38. The company had a trading volume of 311,326 shares, compared to its average volume of 774,726. The firm’s 50-day simple moving average is $8.31 and its two-hundred day simple moving average is $9.65. Gossamer Bio has a 1 year low of $6.28 and a 1 year high of $14.30. The company has a quick ratio of 8.12, a current ratio of 8.12 and a debt-to-equity ratio of 7.44. The firm has a market capitalization of $569.12 million, a price-to-earnings ratio of -2.38 and a beta of 1.12.

Gossamer Bio (NASDAQ:GOSSGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.01. Equities research analysts anticipate that Gossamer Bio will post -2.73 EPS for the current year.

In other news, CEO Faheem Hasnain sold 19,035 shares of Gossamer Bio stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $8.91, for a total value of $169,601.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Laura Carter sold 5,002 shares of Gossamer Bio stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $8.28, for a total transaction of $41,416.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,300 shares of company stock valued at $367,628. 23.30% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Walleye Capital LLC boosted its holdings in shares of Gossamer Bio by 39.2% in the first quarter. Walleye Capital LLC now owns 252,825 shares of the company’s stock worth $2,195,000 after buying an additional 71,201 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Gossamer Bio by 13.3% in the first quarter. Jane Street Group LLC now owns 31,691 shares of the company’s stock worth $275,000 after buying an additional 3,726 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Gossamer Bio in the first quarter worth approximately $1,429,000. Point72 Hong Kong Ltd purchased a new position in shares of Gossamer Bio in the first quarter worth approximately $33,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Gossamer Bio by 11.3% in the first quarter. Quantbot Technologies LP now owns 13,801 shares of the company’s stock worth $119,000 after buying an additional 1,401 shares during the last quarter. Hedge funds and other institutional investors own 76.90% of the company’s stock.

Gossamer Bio Company Profile (Get Rating)

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colonystimulating factor 1 receptor, or CSF1R, and c-KIT inhibitor for the treatment of pulmonary arterial hypertension; GB004, a gut-targeted, oral small molecule for the treatment of inflammatory bowel disease; GB5121, an oral, irreversible, covalent, small molecule inhibitor of Bruton's Tyrosine Kinase for the treatment of primary central nervous system lymphoma; and GB7208, an oral, small molecule, BTK inhibitor for the treatment of multiple sclerosis.

See Also

Get a free copy of the Zacks research report on Gossamer Bio (GOSS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Gossamer Bio (NASDAQ:GOSS)

Receive News & Ratings for Gossamer Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gossamer Bio and related companies with MarketBeat.com's FREE daily email newsletter.