H.C. Wainwright analyst Patrick Trucchio has reiterated their bullish stance on GOSS stock, giving a Buy rating yesterday.
Patrick Trucchio has given his Buy rating due to a combination of factors observed in the progress and potential of Gossamer Bio’s lead drug candidate, seralutinib. The drug is currently undergoing a Phase 3 trial (PROSERA) for treating pulmonary arterial hypertension (PAH) with promising patient enrollment and clinical site activation rates. The trial’s acceptance in Japan without additional studies bodes well for future market expansion, and the company’s financial position is strong, with sufficient cash to support operations well into the first half of 2026. Furthermore, the upcoming American Thoracic Society conference is expected to generate more interest in the drug’s clinical profile.
Patrick Trucchio’s confidence is also bolstered by the positive data from the TORREY OLE trial, which shows seralutinib’s ability to consistently reduce pulmonary vascular resistance, especially in patients who are the primary focus of the PROSERA study. The safety profile of seralutinib has remained stable and the anticipation of new data at the ATS 2024 conference is likely to accelerate the momentum behind the drug. Additionally, there is potential for the drug’s application to be expanded to treat Group 3 pulmonary hypertension with interstitial lung disease (PH-ILD), which could further enhance its market value. All these facets contribute to Trucchio’s continued endorsement of a Buy rating with a price target of $10 for Gossamer Bio’s stock.
According to TipRanks, Trucchio is an analyst with an average return of -7.1% and a 33.13% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Oncolytics Biotech, and Vir Biotechnology.
In another report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $6.00 price target.
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Gossamer Bio (GOSS) Company Description:
Gossamer Bio, Inc. engages in discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology. Its primary product candidate is GB001, which is intended for the treatment of moderate-to-severe eosinophilic asthma and other allergic conditions. The company was founded by Faheem Hasnain and Sheila Gujrathi in 2015 and is headquartered in San Diego, CA.
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