Gossamer Bio Receives Reaffirmed Buy Rating from HC Wainwright

HC Wainwright, a well-known investment firm, has reiterated its "buy" rating for Gossamer Bio (NASDAQ:GOSS) in a recent research note released to investors on Thursday. As part of this announcement, they set a price target of $10.00 per share for Gossamer Bio stock.

Gossamer Bio Stock Overview

On the day of the announcement, Gossamer Bio's stock opened at $0.92. The company's fifty-day moving average stands at $0.86, while the 200-day moving average is $0.90. Over the past year, Gossamer Bio has seen its stock price fluctuate between a low of $0.50 and a high of $1.60. Currently, the company has a market capitalization of approximately $208.15 million, with a price-to-earnings (P/E) ratio of -2.87. The stock's beta is recorded at 1.81, indicating its volatility in the market. Gossamer Bio's financial health is reflected in its debt-to-equity ratio of 3.64, a quick ratio of 6.74, and a current ratio of 6.74.

Gossamer Bio recently announced its quarterly earnings on November 7. The company reported an earnings per share (EPS) of ($0.14) for the quarter, which exceeded the analysts' expectations of ($0.18) by $0.04. Additionally, Gossamer Bio recorded a revenue of $9.48 million during this quarter, significantly surpassing analysts' forecast of $4.52 million. Analysts predict that Gossamer Bio will post an EPS of -0.28 for the current fiscal year.

Institutional Investments in Gossamer Bio

In recent months, several institutional investors have adjusted their positions in Gossamer Bio. Notably, Jacobs Levy Equity Management Inc. increased its holdings by 30.7% during the third quarter. After acquiring an additional 442,895 shares, Jacobs Levy now owns a total of 1,887,512 shares, valued at $1,862,000. The Manufacturers Life Insurance Company also raised its stake in Gossamer Bio by 24.2%, holding 385,133 shares worth $380,000 after gaining an additional 74,920 shares. GSA Capital Partners LLP and US Bancorp DE both took new positions in Gossamer Bio, investing $67,000 and $39,000 respectively in the same quarter. Sequoia Financial Advisors LLC has similarly increased its holdings by 26.7%, owning 118,500 shares worth $117,000. Overall, institutional investors control 81.23% of Gossamer Bio's total stock.

Understanding Gossamer Bio

Gossamer Bio, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH) within the United States. In addition to this, the company is working on GB002, an inhaled small molecule inhibitor that targets platelet-derived growth factor receptor, colony-stimulating factor 1 receptor, and c-KIT. GB002 is currently in Phase 3 clinical trials for the treatment of PAH.

Investment Considerations

As potential investors assess Gossamer Bio, it is worth noting that while the company has been assigned a "buy" rating, top analysts are also suggesting alternative stocks that may offer better investment opportunities. It is advisable for investors to explore these options further.

Gossamer, Bio, Stocks