Gossamer Bio (NASDAQ:GOSS) Posts Earnings Results, Hits Expectations

Gossamer Bio (NASDAQ:GOSS) posted its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15), Zacks reports. The firm had revenue of $9.38 million for the quarter, compared to analysts’ expectations of $7.02 million.

Gossamer Bio Stock Performance

Gossamer Bio stock opened at $1.36 on Thursday. The company has a market cap of $308.18 million, a PE ratio of -4.25 and a beta of 1.86. The company has a fifty day moving average price of $1.15 and a two-hundred day moving average price of $0.98. The company has a debt-to-equity ratio of 3.64, a current ratio of 6.74 and a quick ratio of 6.74. Gossamer Bio has a 12 month low of $0.50 and a 12 month high of $1.55.

Hedge Funds Weigh In On Gossamer Bio

A hedge fund recently raised its stake in Gossamer Bio stock. Bank of America Corp DE boosted its holdings in Gossamer Bio, Inc. (NASDAQ:GOSS) by 107.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,788 shares of the company’s stock after purchasing an additional 43,866 shares during the quarter. Bank of America Corp DE’s holdings in Gossamer Bio were worth $77,000 at the end of the most recent quarter. 81.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Gossamer Bio in a research note on Tuesday. Wedbush restated an “outperform” rating and issued a $4.00 price target on shares of Gossamer Bio in a research note on Friday, March 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Gossamer Bio presently has a consensus rating of “Buy” and a consensus target price of $9.20.

About Gossamer Bio

Gossamer Bio, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing seralutinib for the treatment of pulmonary arterial hypertension (PAH) in the United States. The company is developing GB002, an inhaled, small molecule, platelet-derived growth factor receptor, or PDGFR, colony-stimulatin factor 1 receptor and c-KIT inhibitor, which is in Phase 3 clinical trial for the treatment of PAH.