Gossamer Bio (NASDAQ:GOSS) Stock Gets Price Target Trim from Wedbush

Key Points

• Wedbush cut its price target on Gossamer Bio to $32 and maintained a neutral rating; that target implies 225.83% upside from the prior close.
• Analyst views are mixed: MarketBeat reports a consensus Hold rating and an average target of $246.40, while five analysts rate the stock Buy, three Hold, and two Sell.
• Gossamer opened at $9.82, near its 52-week low of $8.29, and reported quarterly EPS of -$7.36, missing analysts’ estimate of -$3.79.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) had its target price decreased by equities researchers at Wedbush to $32.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Wedbush's price target would indicate a potential upside of 225.83% from the stock's previous close.

Several other research firms have also weighed in on GOSS. Weiss Ratings lowered Gossamer Bio from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, November 4th. Chardan Capital restated a "buy" rating on shares of Gossamer Bio in a research report on Monday, October 26th. Leerink Partners raised Gossamer Bio from a "market perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Gossamer Bio from a "hold" rating to a "sell" rating in a research report on Sunday, September 20th. Finally, HC Wainwright restated a "buy" rating on shares of Gossamer Bio in a report on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Gossamer Bio currently has an average rating of "Hold" and a consensus price target of $246.40.

Gossamer Bio Stock Performance

Shares of NASDAQ:GOSS opened at $9.82 on Wednesday. Gossamer Bio has a 52 week low of $8.29 and a 52 week high of $309.60. The company has a market cap of $60.01 million, a PE ratio of -0.18 and a beta of 2.28. The firm has a 50 day simple moving average of $10.71 and a 200 day simple moving average of $35.96.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported ($7.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.79) by ($3.57). The business had revenue of $38.43 million for the quarter, compared to the consensus estimate of $12.16 million. On average, equities analysts predict that Gossamer Bio will post -33.00 earnings per share for the current year.

Institutional Trading of Gossamer Bio

A number of institutional investors have recently bought and sold shares of GOSS. GSA Capital Partners LLP acquired a new position in Gossamer Bio in the 2nd quarter worth about $2,467,000. Kalehua Capital Management LLC bought a new stake in shares of Gossamer Bio in the 1st quarter valued at approximately $3,363,000. ARCH Venture Management LLC acquired a new position in Gossamer Bio in the second quarter worth approximately $1,326,004. BlackRock Inc. acquired a new position in Gossamer Bio in the second quarter worth approximately $1,262,000. Finally, Corient Private Wealth LP raised its position in Gossamer Bio by 41.3% during the second quarter. Corient Private Wealth LP now owns 5,632,698 shares of the company's stock valued at $927,000 after acquiring an additional 1,647,315 shares in the last quarter. Institutional investors and hedge funds own 81.23% of the company's stock.

About Gossamer Bio

Gossamer Bio, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing medicines for diseases with significant unmet medical needs. The company concentrates primarily on immunology, inflammation and pulmonary disorders. Its lead product candidate is seralutinib, an inhaled tyrosine kinase inhibitor designed to target pathways involving platelet-derived growth factor, colony-stimulating factor 1 and stem cell factor receptors. Gossamer is developing seralutinib for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.