Gossamer Bio (NASDAQ:GOSS) Raised to Outperform at Leerink Partners

Gossamer Bio (NASDAQ:GOSS) was upgraded by stock analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a $1.00 price objective on the stock. Leerink Partners’ target price would indicate a potential upside of 401.50% from the company’s previous close.

A number of other research firms have also weighed in on GOSS. HC Wainwright reaffirmed a “buy” rating on shares of Gossamer Bio in a report on Monday. Weiss Ratings lowered shares of Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.20.

Gossamer Bio Price Performance

Shares of NASDAQ GOSS opened at $0.20 on Tuesday. Gossamer Bio has a 1-year low of $0.11 and a 1-year high of $3.87. The company has a market capitalization of $46.80 million, a price-to-earnings ratio of -0.25 and a beta of 2.04. The business has a 50-day moving average of $0.18 and a 200-day moving average of $0.80.

Gossamer Bio (NASDAQ:GOSS) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $16.95 million for the quarter, compared to the consensus estimate of $4.67 million. Research analysts expect that Gossamer Bio will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Gossamer Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Gossamer Bio by 107.2% during the fourth quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock worth $77,000 after buying an additional 43,866 shares in the last quarter. Invesco Ltd. bought a new position in Gossamer Bio during the 1st quarter valued at $48,000. Cubist Systematic Strategies LLC bought a new position in Gossamer Bio during the 1st quarter valued at $213,000. Goldman Sachs Group Inc. grew its holdings in Gossamer Bio by 720.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 939,603 shares of the company’s stock worth $1,034,000 after acquiring an additional 825,047 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Gossamer Bio by 5,250.1% during the 1st quarter. Jane Street Group LLC now owns 683,423 shares of the company’s stock worth $752,000 after acquiring an additional 670,649 shares in the last quarter. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

About Gossamer Bio

Gossamer Bio, Inc is a clinical-stage biopharmaceutical company headquartered in San Diego, California. Founded in 2012, the company is focused on discovering and developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology indications. Gossamer Bio leverages a deep pipeline of small-molecule candidates aimed at improving patient outcomes in areas of high unmet need.

The company’s lead programs include GB004, an S1P1 receptor modulator in late-stage development for ulcerative colitis, and GB1275, a CD11b modulator being investigated in solid tumors and hematologic malignancies.