Gossamer Bio, Inc. (NASDAQ:GOSS) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Gossamer Bio, Inc. has received a consensus rating of "Moderate Buy" from brokerages, with six firms issuing ratings, including one sell and five buy ratings.
• Shares have shown a 3.6% increase, currently trading at $2.57, with a 12-month price target among brokerages averaging $8.50.
• The company reported better-than-expected earnings with $11.49 million in revenue for the last quarter, surpassing estimates of $4.12 million.

Shares of Gossamer Bio, Inc. (NASDAQ:GOSS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.50.

A number of brokerages recently weighed in on GOSS. Weiss Ratings restated a "sell (d-)" rating on shares of Gossamer Bio in a report on Saturday, September 27th. Wall Street Zen lowered shares of Gossamer Bio from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. 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 note on Wednesday, August 6th. Scotiabank began coverage on shares of Gossamer Bio in a research note on Monday, July 14th. They set a "sector outperform" rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Gossamer Bio in a research note on Thursday, September 11th.

Gossamer Bio Stock Up 3.6%

Shares of NASDAQ GOSS opened at $2.57 on Friday. Gossamer Bio has a twelve month low of $0.66 and a twelve month high of $3.60. The firm has a market cap of $584.37 million, a P/E ratio of -4.15 and a beta of 1.94. The company has a 50 day moving average of $2.48 and a 200 day moving average of $1.63.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $11.49 million during the quarter, compared to analyst estimates of $4.12 million. As a group, equities analysts expect that Gossamer Bio will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gossamer Bio

Several hedge funds and other institutional investors have recently modified their holdings of GOSS. Legal & General Group Plc purchased a new stake in shares of Gossamer Bio in the 2nd quarter worth $26,000. Banco BTG Pactual S.A. purchased a new stake in shares of Gossamer Bio in the 2nd quarter worth $27,000. Drive Wealth Management LLC increased its stake in shares of Gossamer Bio by 52.7% in the 2nd 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 purchased a new stake in shares of Gossamer Bio in the 1st quarter worth $38,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Gossamer Bio in the 2nd quarter worth $48,000. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

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.

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