Gossamer Bio (NASDAQ:GOSS) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

• Wedbush has raised its price target for Gossamer Bio (NASDAQ:GOSS) from $4.00 to $5.00, indicating a potential upside of 155.75% from its current price.
• Other analysts have also increased their target prices, with Goldman Sachs raising it to $8.00 and Scotiabank setting a target of $11.00, while all maintaining positive ratings on the stock.
• Gossamer Bio reported a revenue of $11.49 million for the last quarter, surpassing expectations of $4.12 million, alongside a modest earnings per share of ($0.17).

Gossamer Bio (NASDAQ:GOSS - Get Free Report) had its price objective boosted by equities research analysts at Wedbush from $4.00 to $5.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price objective suggests a potential upside of 189.86% from the stock's current price.

A number of other equities research analysts have also weighed in on GOSS. Scotiabank initiated coverage on shares of Gossamer Bio in a report on Monday, July 14th. They set a "sector outperform" rating and a $11.00 price objective on the stock. The Goldman Sachs Group raised 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.

Gossamer Bio Stock Down 0.9%

NASDAQ GOSS traded down $0.02 during trading on Wednesday, hitting $1.73. The company's stock had a trading volume of 1,377,726 shares, compared to its average volume of 1,924,509. Gossamer Bio has a fifty-two week low of $0.66 and a fifty-two week high of $2.23. The company has a market cap of $392.09 million, a PE ratio of -2.77 and a beta of 1.96. The company has a debt-to-equity ratio of 6.70, a current ratio of 4.40 and a quick ratio of 5.71. The business's 50 day simple moving average is $1.50 and its 200-day simple moving average is $1.23.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. The company 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%. On average, equities analysts anticipate that Gossamer Bio will post -0.28 EPS for the current fiscal year.

Institutional Trading of Gossamer Bio

Several hedge funds and other institutional investors have recently bought and sold shares of GOSS. Geode Capital Management LLC lifted its holdings in Gossamer Bio by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,250,461 shares of the company's stock valued at $2,037,000 after acquiring an additional 38,084 shares during the period. Silverarc Capital Management LLC boosted its holdings in Gossamer Bio by 9.3% during the fourth quarter. Silverarc Capital Management LLC now owns 6,171,847 shares of the company's stock worth $5,583,000 after buying an additional 526,495 shares in the last quarter. Opti Capital Management LP acquired a new stake in Gossamer Bio during the fourth quarter valued at $165,000. Allostery Investments LP acquired a new stake in Gossamer Bio during the fourth quarter valued at $555,000. Finally, Alyeska Investment Group L.P. increased its holdings in Gossamer Bio by 52.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 8,808,514 shares of the company's stock valued at $7,968,000 after buying an additional 3,041,058 shares in the last quarter. 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.