Gossamer Bio (NASDAQ:GOSS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Gossamer Bio has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting improved sentiment among analysts.
• Several brokerages have raised their target prices for Gossamer Bio, with Wedbush increasing theirs from $4.00 to $5.00 and Goldman Sachs raising it from $7.00 to $8.00.
• Gossamer Bio reported a better-than-expected earnings per share of ($0.17) compared to the consensus estimate of ($0.18), alongside revenues of $11.49 million for the quarter.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently commented on GOSS. Wedbush increased their target price on Gossamer Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group increased 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. Scotiabank initiated coverage on Gossamer Bio in a research report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a report on Thursday. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $8.50.

Gossamer Bio Stock Performance

Shares of Gossamer Bio stock opened at $3.46 on Friday. Gossamer Bio has a 1 year low of $0.66 and a 1 year high of $3.60. The firm's 50-day moving average is $2.08 and its 200 day moving average is $1.46. The stock has a market cap of $786.73 million, a price-to-earnings ratio of -5.58 and a beta of 1.95. The company has a debt-to-equity ratio of 6.70, a current ratio of 4.40 and a quick ratio of 4.40.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GOSS. Legal & General Group Plc bought a new stake in Gossamer Bio during the 2nd quarter worth approximately $26,000. Banco BTG Pactual S.A. bought a new stake in shares of Gossamer Bio during the 2nd quarter valued at $27,000. Drive Wealth Management LLC raised its position in shares of Gossamer Bio by 52.7% during the 2nd quarter. Drive Wealth Management LLC now owns 25,474 shares of the company's stock valued at $31,000 after purchasing an additional 8,797 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Gossamer Bio during the 4th quarter valued at $32,000. Finally, Virtu Financial LLC bought a new position in Gossamer Bio in the 1st quarter worth $38,000. 81.23% of the stock is currently owned by institutional investors.

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.

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