Wedbush Reiterates “Outperform” Rating for Gossamer Bio (NASDAQ:GOSS)

Gossamer Bio (NASDAQ:GOSS)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $4.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 436.98% from the company’s current price. Wedbush also issued estimates for Gossamer Bio’s Q2 2024 earnings at $0.51 EPS, FY2024 earnings at ($0.10) EPS, FY2027 earnings at ($0.69) EPS and FY2028 earnings at ($0.51) EPS.

Several other equities research analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Gossamer Bio in a report on Monday. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective on shares of Gossamer Bio in a report on Wednesday, March 27th. Finally, The Goldman Sachs Group decreased their target price on shares of Gossamer Bio from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.65.

Gossamer Bio Stock Performance

GOSS traded down $0.00 during midday trading on Wednesday, hitting $0.74. 236,863 shares of the company were exchanged, compared to its average volume of 1,355,484. The company’s 50 day simple moving average is $1.07 and its 200 day simple moving average is $0.93. The firm has a market capitalization of $168.51 million, a price-to-earnings ratio of -0.54 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 1-year low of $0.45 and a 1-year high of $1.88.

Gossamer Bio (NASDAQ:GOSS) last posted its earnings results on Tuesday, March 5th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). As a group, sell-side analysts predict that Gossamer Bio will post -0.75 earnings per share for the current year.

Insider Activity

In other Gossamer Bio news, CEO Faheem Hasnain sold 23,172 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1.16, for a total value of $26,879.52. Following the sale, the chief executive officer now owns 120,293 shares of the company’s stock, valued at $139,539.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 33,620 shares of company stock valued at $39,682. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gossamer Bio

Several institutional investors have recently modified their holdings of the business. Octagon Capital Advisors LP grew its stake in shares of Gossamer Bio by 12.2% in the fourth quarter. Octagon Capital Advisors LP now owns 9,187,883 shares of the company’s stock worth $8,384,000 after acquiring an additional 1,000,000 shares in the last quarter. ARCH Venture Management LLC acquired a new position in shares of Gossamer Bio during the third quarter worth $6,709,000. Platinum Investment Management Ltd. grew its stake in shares of Gossamer Bio by 29.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 6,954,110 shares of the company’s stock worth $6,346,000 after purchasing an additional 1,596,332 shares in the last quarter. Palo Alto Investors LP grew its stake in shares of Gossamer Bio by 88.5% during the third quarter. Palo Alto Investors LP now owns 6,530,288 shares of the company’s stock worth $5,438,000 after purchasing an additional 3,065,136 shares in the last quarter. Finally, Silverarc Capital Management LLC acquired a new position in shares of Gossamer Bio during the third quarter worth $5,105,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

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.