Zacks Investment Research Upgrades Gossamer Bio (NASDAQ:GOSS) to Buy

Gossamer Bio (NASDAQ:GOSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $15.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 7.76% from the company’s previous close.

According to Zacks, “Gossamer Bio Inc. is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing and commercializing therapeutics in the areas of immunology, inflammation and oncology. The company’s product pipeline includes GB001, GB002, GB004, GB1275, Autoimmune program and Oncology program which are in clinical stage. Gossamer Bio Inc. is based in San Diego, California. “

Several other equities analysts have also commented on the stock. BidaskClub lowered shares of Gossamer Bio from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. Piper Sandler assumed coverage on shares of Gossamer Bio in a research report on Wednesday, April 22nd. They set an “overweight” rating and a $30.00 price objective for the company. HC Wainwright assumed coverage on shares of Gossamer Bio in a research report on Monday, June 29th. They set a “buy” rating and a $31.00 price objective for the company. SVB Leerink increased their price objective on shares of Gossamer Bio from $27.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Cantor Fitzgerald increased their target price on shares of Gossamer Bio from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $28.63.

Shares of NASDAQ:GOSS traded down $0.78 during midday trading on Wednesday, reaching $13.92. 6,492 shares of the company were exchanged, compared to its average volume of 557,547. Gossamer Bio has a one year low of $7.52 and a one year high of $27.15. The company has a current ratio of 12.53, a quick ratio of 12.53 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $13.21 and its two-hundred day moving average is $12.74. The stock has a market cap of $897.85 million, a PE ratio of -4.33 and a beta of 1.06.

Gossamer Bio (NASDAQ:GOSS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.00) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.14). As a group, sell-side analysts expect that Gossamer Bio will post -3.32 EPS for the current year.

In other news, CFO Bryan Giraudo bought 2,000 shares of Gossamer Bio stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $12.96 per share, with a total value of $25,920.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. purchased a new position in Gossamer Bio in the 2nd quarter worth about $27,000. Bank of Montreal Can increased its stake in Gossamer Bio by 967.6% in the 2nd quarter. Bank of Montreal Can now owns 4,377 shares of the company’s stock worth $57,000 after buying an additional 3,967 shares during the period. Ameritas Investment Partners Inc. increased its stake in Gossamer Bio by 22.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,379 shares of the company’s stock worth $57,000 after buying an additional 813 shares during the period. Principal Financial Group Inc. purchased a new position in Gossamer Bio in the 1st quarter worth about $103,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gossamer Bio by 264.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,421 shares of the company’s stock worth $135,000 after buying an additional 7,564 shares during the period. 58.13% of the stock is currently owned by institutional investors.

About Gossamer Bio

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. It is developing GB001, an oral antagonist of prostaglandin D2 receptor 2 that is in Phase IIb clinical trial for the treatment of moderate-to-severe eosinophilic asthma, as well as that has completed Phase I clinical trial for chronic rhinosinusitis with nasal polyps, without nasal polyps, and chronic spontaneous urticarial; GB002, a platelet-derived growth factor, receptor kinase inhibitor that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension; GB004, an oral small molecule that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases; and GB1275, an oral small molecule for the treatment of oncology indications.

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