Wedbush assumed coverage on shares of Gossamer Bio (NASDAQ:GOSS – Get Rating) in a report issued on Monday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $24.00 target price on the stock. Wedbush also issued estimates for Gossamer Bio's Q3 2022 earnings at ($0.84) EPS, Q4 2022 earnings at ($0.84) EPS, FY2022 earnings at ($3.17) EPS, Q1 2023 earnings at ($0.84) EPS, Q2 2023 earnings at ($0.85) EPS, Q3 2023 earnings at ($0.86) EPS, Q4 2023 earnings at ($0.86) EPS, FY2023 earnings at ($3.41) EPS, FY2024 earnings at ($3.52) EPS, FY2025 earnings at ($3.64) EPS and FY2026 earnings at ($2.97) EPS.
Several other analysts have also issued reports on GOSS. Raymond James upped their price objective on Gossamer Bio from $10.00 to $14.00 and gave the company an outperform rating in a research note on Thursday, July 14th. Barclays increased their target price on Gossamer Bio from $12.00 to $18.00 and gave the stock an overweight rating in a research note on Wednesday, August 17th. Finally, HC Wainwright reiterated a buy rating and set a $20.00 target price on shares of Gossamer Bio in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $19.10.
Get Gossamer Bio alerts:Gossamer Bio Stock Performance
Shares of NASDAQ GOSS opened at $12.28 on Monday. The stock has a 50 day moving average price of $13.20 and a 200 day moving average price of $9.85. Gossamer Bio has a 52 week low of $5.64 and a 52 week high of $15.19. The company has a debt-to-equity ratio of 7.44, a quick ratio of 5.24 and a current ratio of 5.24. The stock has a market capitalization of $1.15 billion, a PE ratio of -4.04 and a beta of 0.92.
Gossamer Bio (NASDAQ:GOSS – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.07). Analysts predict that Gossamer Bio will post -2.76 earnings per share for the current fiscal year.Insiders Place Their Bets
In related news, insider Laura Carter acquired 6,934 shares of the stock in a transaction on Friday, July 15th. The shares were purchased at an average price of $7.21 per share, for a total transaction of $49,994.14. Following the purchase, the insider now directly owns 87,168 shares in the company, valued at $628,481.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Gossamer Bio news, CEO Faheem Hasnain bought 138,696 shares of Gossamer Bio stock in a transaction on Friday, July 15th. The shares were purchased at an average price of $7.21 per share, with a total value of $999,998.16. Following the acquisition, the chief executive officer now owns 3,617,325 shares in the company, valued at approximately $26,080,913.25. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura Carter bought 6,934 shares of Gossamer Bio stock in a transaction on Friday, July 15th. The stock was acquired at an average cost of $7.21 per share, for a total transaction of $49,994.14. Following the acquisition, the insider now owns 87,168 shares in the company, valued at approximately $628,481.28. The disclosure for this purchase can be found here. Insiders have purchased a total of 159,499 shares of company stock worth $1,149,988 in the last 90 days. Company insiders own 8.30% of the company's stock.
Institutional Investors Weigh In On Gossamer Bio
Large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at $33,000. Amalgamated Bank acquired a new stake in shares of Gossamer Bio in the 1st quarter valued at $65,000. Denali Advisors LLC acquired a new stake in shares of Gossamer Bio in the 2nd quarter valued at $75,000. Teacher Retirement System of Texas acquired a new stake in shares of Gossamer Bio during the 1st quarter valued at $89,000. Finally, Corton Capital Inc. acquired a new stake in shares of Gossamer Bio during the 2nd quarter valued at $91,000. Institutional investors and hedge funds own 67.57% of the company's stock.
About Gossamer Bio
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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. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colonystimulating factor 1 receptor, or CSF1R, and c-KIT inhibitor for the treatment of pulmonary arterial hypertension; GB004, a gut-targeted, oral small molecule for the treatment of inflammatory bowel disease; GB5121, an oral, irreversible, covalent, small molecule inhibitor of Bruton's Tyrosine Kinase for the treatment of primary central nervous system lymphoma; and GB7208, an oral, small molecule, BTK inhibitor for the treatment of multiple sclerosis.
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