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

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS) have received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $8.50.

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Gossamer Bio from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gossamer Bio in a research note on Thursday, September 11th. Scotiabank initiated coverage on Gossamer Bio in a research note on Monday, July 14th. They issued a “sector outperform” rating and a $11.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gossamer Bio in a research note on Saturday, September 27th. Finally, Wedbush boosted their price target on Gossamer Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in shares of Gossamer Bio during the second quarter worth approximately $26,000. Banco BTG Pactual S.A. acquired a new position in shares of Gossamer Bio during the second quarter worth approximately $27,000. Drive Wealth Management LLC lifted its position in shares of Gossamer Bio by 52.7% during the second quarter. Drive Wealth Management LLC now owns 25,474 shares of the company’s stock worth $31,000 after purchasing an additional 8,797 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Gossamer Bio during the first quarter worth approximately $38,000. Finally, ProShare Advisors LLC acquired a new position in shares of Gossamer Bio during the second quarter worth approximately $48,000. 81.23% of the stock is owned by institutional investors and hedge funds.

Gossamer Bio Price Performance

GOSS opened at $2.50 on Friday. Gossamer Bio has a fifty-two week low of $0.66 and a fifty-two week high of $3.60. The firm’s fifty day moving average price is $2.49 and its two-hundred day moving average price is $1.65. The company has a market capitalization of $568.45 million, a P/E ratio of -4.03 and a beta of 1.94.

Gossamer Bio (NASDAQ:GOSS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. Gossamer Bio had a negative net margin of 344.81% and a negative return on equity of 1,774.72%. The firm had revenue of $11.49 million for the quarter, compared to the consensus estimate of $4.12 million. On average, equities research analysts expect that Gossamer Bio will post -0.28 EPS for the current fiscal year.

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.