Gossamer Bio (GOSS) Stock Rating Upgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Gossamer Bio (NASDAQ:GOSS) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

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 brokerages also recently weighed in on GOSS. Svb Leerink initiated coverage on Gossamer Bio in a research report on Tuesday, March 5th. They issued an outperform rating and a $30.00 price objective for the company. Evercore ISI initiated coverage on Gossamer Bio in a research report on Tuesday, March 5th. They issued an outperform rating and a $30.00 price objective for the company. Barclays initiated coverage on Gossamer Bio in a research report on Tuesday, March 5th. They issued an overweight rating and a $27.00 price objective for the company. Leerink Swann initiated coverage on Gossamer Bio in a research report on Tuesday, March 5th. They issued an outperform rating for the company. Finally, Bank of America initiated coverage on Gossamer Bio in a research report on Tuesday, March 5th. They issued a buy rating and a $30.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Gossamer Bio currently has an average rating of Buy and an average price target of $29.25.

GOSS stock traded up $0.65 during midday trading on Tuesday, hitting $21.14. The company had a trading volume of 173,300 shares, compared to its average volume of 107,846. Gossamer Bio has a 52 week low of $15.59 and a 52 week high of $25.06. The company has a market capitalization of $1.35 billion and a P/E ratio of -0.94.

Gossamer Bio (NASDAQ:GOSS) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.90) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.27). On average, equities analysts forecast that Gossamer Bio will post -2.38 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in shares of Gossamer Bio during the first quarter valued at approximately $25,000. Morgan Stanley purchased a new position in shares of Gossamer Bio during the first quarter valued at approximately $46,000. Citigroup Inc. purchased a new position in shares of Gossamer Bio during the first quarter valued at approximately $66,000. JPMorgan Chase & Co. purchased a new position in shares of Gossamer Bio during the first quarter valued at approximately $69,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Gossamer Bio during the first quarter valued at approximately $126,000. 1.42% of the stock is currently owned by hedge funds and other 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.

Further Reading: Return on Equity (ROE)

Get a free copy of the Zacks research report on Gossamer Bio (GOSS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Gossamer Bio (NASDAQ:GOSS)

Receive News & Ratings for Gossamer Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gossamer Bio and related companies with MarketBeat.com's FREE daily email newsletter.