Gossamer Bio, Inc. (NASDAQ:GOSS) Receives $8.50 Average Price Target from Brokerages

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS) have received an average recommendation of “Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $8.50.

A number of brokerages recently commented on GOSS. Wall Street Zen raised shares of Gossamer Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Wedbush raised their price objective on Gossamer Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a research report on Thursday. Scotiabank initiated coverage on Gossamer Bio in a research report on Monday, July 14th. They set a “sector outperform” rating and a $11.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Gossamer Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, May 16th.

Gossamer Bio Price Performance

Gossamer Bio stock opened at $3.46 on Wednesday. The company has a market cap of $786.73 million, a price-to-earnings ratio of -5.58 and a beta of 1.95. The firm’s fifty day moving average is $2.08 and its 200 day moving average is $1.46. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 6.70. Gossamer Bio has a 52-week low of $0.66 and a 52-week high of $3.60.

Gossamer Bio (NASDAQ:GOSS) last announced its earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The business had revenue of $11.49 million during the quarter, compared to analyst estimates of $4.12 million. Gossamer Bio had a negative return on equity of 1,774.72% and a negative net margin of 344.81%. Sell-side analysts forecast that Gossamer Bio will post -0.28 EPS for the current fiscal year.

Institutional Trading of Gossamer Bio

Hedge funds have recently modified their holdings of the stock. Octagon Capital Advisors LP raised its holdings 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 purchasing an additional 9,162,117 shares during the period. Acadian Asset Management LLC raised its stake in Gossamer Bio by 12.4% during the 2nd quarter. Acadian Asset Management LLC now owns 7,146,022 shares of the company’s stock worth $8,786,000 after acquiring an additional 787,909 shares in the last quarter. Geode Capital Management LLC raised its stake in Gossamer Bio by 100.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,555,080 shares of the company’s stock worth $5,604,000 after acquiring an additional 2,282,632 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Gossamer Bio by 8.9% during the second quarter. Corient Private Wealth LLC now owns 3,693,683 shares of the company’s stock worth $4,543,000 after buying an additional 302,200 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Gossamer Bio by 14.6% in the 4th quarter. Millennium Management LLC now owns 3,586,067 shares of the company’s stock valued at $3,244,000 after purchasing an additional 457,179 shares in the last quarter. Hedge funds and other 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.