Gossamer Bio (NASDAQ:GOSS) Rating Increased to Hold at 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 note issued on Saturday.

A number of other research firms also recently issued reports on GOSS. Scotiabank started coverage on shares of Gossamer Bio in a report on Monday, July 14th. They issued a "sector outperform" rating and a $11.00 target price for the company. Wedbush upped their price target on shares of Gossamer Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Gossamer Bio in a research report on Thursday, September 11th. Finally, The Goldman Sachs Group upped their price target on shares of Gossamer Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $8.50.

Gossamer Bio Price Performance

Shares of NASDAQ GOSS traded up $0.09 on Friday, hitting $3.08. The company's stock had a trading volume of 3,629,144 shares, compared to its average volume of 4,632,538. Gossamer Bio has a 12-month low of $0.66 and a 12-month high of $3.60. The company has a market capitalization of $700.33 million, a price-to-earnings ratio of -4.97 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. The stock has a 50 day moving average of $2.23 and a 200-day moving average of $1.51.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company had revenue of $11.49 million for 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%. As a group, research analysts predict that Gossamer Bio will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in Gossamer Bio during the 2nd quarter worth $26,000. Banco BTG Pactual S.A. bought a new position in shares of Gossamer Bio in the 2nd quarter worth about $27,000. Drive Wealth Management LLC lifted its position 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 buying an additional 8,797 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Gossamer Bio in the 4th quarter worth about $32,000. Finally, Virtu Financial LLC bought a new position in shares of Gossamer Bio in the 1st quarter worth about $38,000. 81.23% of the stock is owned by institutional investors and hedge funds.

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.