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

Key Points

• Gossamer Bio, Inc. has received a consensus rating of "Buy" from four research firms, with an average one-year target price of $8.50.
• The company reported a quarterly revenue of $11.49 million, significantly exceeding analyst estimates of $4.12 million, alongside an EPS of ($0.17).
• Institutional investors hold 81.23% of Gossamer Bio's stock, indicating strong institutional interest in the company.

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) have earned a consensus rating of "Buy" from the five brokerages that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.50.

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Gossamer Bio from a "sell" rating to a "hold" rating in a research report on Saturday. Scotiabank assumed coverage on shares of Gossamer Bio in a research report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 target price for the company. Wedbush boosted their target price on shares of Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a report on Thursday.

Gossamer Bio Stock Performance

NASDAQ GOSS traded down $0.19 on Wednesday, reaching $3.27. 2,550,969 shares of the company's stock traded hands, compared to its average volume of 2,215,805. The firm has a market cap of $743.31 million, a price-to-earnings ratio of -5.27 and a beta of 1.95. The stock has a 50 day moving average price of $2.08 and a 200-day moving average price of $1.46. Gossamer Bio has a fifty-two week low of $0.66 and a fifty-two week high of $3.60. The company has a debt-to-equity ratio of 6.70, a quick ratio of 4.40 and a current ratio of 4.40.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in Gossamer Bio by 24.6% in the first quarter. Acadian Asset Management LLC now owns 6,358,113 shares of the company's stock valued at $6,991,000 after buying an additional 1,253,353 shares in the last quarter. Two Sigma Investments LP increased its holdings in Gossamer Bio by 41.3% in the fourth quarter. Two Sigma Investments LP now owns 891,279 shares of the company's stock valued at $806,000 after buying an additional 260,318 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Gossamer Bio in the first quarter valued at $387,000. Two Sigma Advisers LP increased its holdings in Gossamer Bio by 44.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,157,500 shares of the company's stock valued at $1,047,000 after buying an additional 357,500 shares in the last quarter. Finally, Octagon Capital Advisors LP increased its holdings in Gossamer Bio by 99.7% in the fourth quarter. Octagon Capital Advisors LP now owns 18,350,000 shares of the company's stock valued at $16,599,000 after buying an additional 9,162,117 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company's stock.

Gossamer Bio Company Profile

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.