Gossamer Bio (NASDAQ:GOSS) Upgraded to “Outperform” at Leerink Partners

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

Several other analysts have also recently commented on GOSS. Weiss Ratings cut Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. HC Wainwright reiterated a “buy” rating on shares of Gossamer Bio in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Gossamer Bio presently has a consensus rating of “Hold” and a consensus price target of $3.20.

Gossamer Bio Stock Up 46.6%

Shares of Gossamer Bio stock opened at $0.20 on Tuesday. Gossamer Bio has a fifty-two week low of $0.11 and a fifty-two week high of $3.87. The business’s fifty day moving average is $0.18 and its two-hundred day moving average is $0.80. The firm has a market cap of $46.80 million, a PE ratio of -0.25 and a beta of 2.04.

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

Institutional Investors Weigh In On Gossamer Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MMA Asset Management LLC acquired a new position in shares of Gossamer Bio in the 4th quarter valued at about $31,000. Soltis Investment Advisors LLC purchased a new position in Gossamer Bio in the fourth quarter valued at approximately $31,000. Beacon Pointe Advisors LLC acquired a new position in Gossamer Bio during the fourth quarter valued at approximately $34,000. Ieq Capital LLC purchased a new stake in Gossamer Bio during the fourth quarter worth approximately $35,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gossamer Bio during the fourth quarter worth approximately $35,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Gossamer Bio Company Profile

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.