Leerink Partnrs Analysts Lift Earnings Estimates for Gossamer Bio, Inc. (NASDAQ:GOSS)

Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) - Equities researchers at Leerink Partnrs increased their Q3 2024 earnings per share (EPS) estimates for Gossamer Bio in a research report issued on Wednesday, May 8th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will post earnings per share of ($0.23) for the quarter, up from their prior forecast of ($0.30). The consensus estimate for Gossamer Bio's current full-year earnings is ($0.75) per share. Leerink Partnrs also issued estimates for Gossamer Bio's Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.20) EPS, FY2025 earnings at ($0.96) EPS and FY2026 earnings at ($0.64) EPS.

A number of other equities analysts have also issued reports on the company. Wedbush reaffirmed an "outperform" rating and issued a $4.00 target price on shares of Gossamer Bio in a research report on Wednesday. The Goldman Sachs Group cut their price objective on Gossamer Bio from $9.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, March 6th. Piper Sandler restated an "overweight" rating and issued a $15.00 price objective on shares of Gossamer Bio in a report on Wednesday, March 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of Gossamer Bio in a report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $7.65.

Gossamer Bio Price Performance

Gossamer Bio stock remained flat at $0.74 during midday trading on Friday. The company had a trading volume of 1,049,937 shares, compared to its average volume of 1,366,886. The stock has a fifty day simple moving average of $1.05 and a two-hundred day simple moving average of $0.94. The company has a market cap of $167.92 million, a P/E ratio of -0.53 and a beta of 1.84. The company has a current ratio of 5.94, a quick ratio of 5.94 and a debt-to-equity ratio of 3.14. Gossamer Bio has a 12-month low of $0.45 and a 12-month high of $1.88.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21).

Insiders Place Their Bets

In other news, CEO Faheem Hasnain sold 23,172 shares of the business's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1.16, for a total transaction of $26,879.52. Following the completion of the sale, the chief executive officer now owns 120,293 shares in the company, valued at $139,539.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 33,620 shares of company stock valued at $39,682. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC acquired a new stake in shares of Gossamer Bio during the 1st quarter worth about $29,000. SG Americas Securities LLC bought a new position in Gossamer Bio in the 1st quarter valued at approximately $34,000. Financial Advocates Investment Management acquired a new stake in shares of Gossamer Bio during the 3rd quarter valued at $61,000. Bank of New York Mellon Corp grew its holdings in shares of Gossamer Bio by 178.0% during the third quarter. Bank of New York Mellon Corp now owns 91,246 shares of the company's stock worth $76,000 after purchasing an additional 58,428 shares during the last quarter. Finally, Citigroup Inc. increased its position in Gossamer Bio by 9,916.9% in the 3rd quarter. Citigroup Inc. now owns 196,732 shares of the company's stock valued at $164,000 after acquiring an additional 194,768 shares during the period. 81.23% of the stock is currently owned by 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.