Gossamer Bio (NASDAQ:GOSS) Issues Quarterly Earnings Results

Gossamer Bio (NASDAQ:GOSS) released its quarterly earnings results on Tuesday. The company reported ($7.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.79) by ($3.57), FiscalAI reports. The firm had revenue of $38.43 million for the quarter, compared to analysts’ expectations of $12.16 million.

Gossamer Bio Stock Up 5.9%

Gossamer Bio stock traded up $0.63 during mid-day trading on Tuesday, hitting $11.28. 99,581 shares of the stock were exchanged, compared to its average volume of 236,431. Gossamer Bio has a 12 month low of $8.29 and a 12 month high of $309.60. The firm’s fifty day simple moving average is $10.76 and its two-hundred day simple moving average is $37.05. The stock has a market capitalization of $68.93 million, a price-to-earnings ratio of -0.20 and a beta of 2.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GOSS shares. Chardan Capital reissued a “buy” rating on shares of Gossamer Bio in a research note on Monday, October 26th. Leerink Partners raised Gossamer Bio from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Tuesday, July 28th. Wall Street Zen downgraded Gossamer Bio from a “hold” rating to a “sell” rating in a report on Sunday, September 20th. Weiss Ratings downgraded Gossamer Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, November 4th. Finally, HC Wainwright reiterated a “buy” rating on shares of Gossamer Bio in a research report on Thursday, August 27th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $256.00.

Gossamer Bio Company Profile

Gossamer Bio, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing medicines for diseases with significant unmet medical needs. The company concentrates primarily on immunology, inflammation and pulmonary disorders. Its lead product candidate is seralutinib, an inhaled tyrosine kinase inhibitor designed to target pathways involving platelet-derived growth factor, colony-stimulating factor 1 and stem cell factor receptors. Gossamer is developing seralutinib for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.