Gossamer Bio (NASDAQ:GOSS) Posts Earnings Results, Beats Expectations By $2.60 EPS

Gossamer Bio (NASDAQ:GOSS) posted its quarterly earnings results on Tuesday. The company reported ($1.19) EPS for the quarter, beating analysts’ consensus estimates of ($3.79) by $2.60, Zacks reports.

Gossamer Bio Price Performance

Gossamer Bio stock traded up $0.63 during midday trading on Tuesday, reaching $11.28. 99,027 shares of the company traded hands, compared to its average volume of 236,415. Gossamer Bio has a 12 month low of $8.29 and a 12 month high of $309.60. The business has a 50 day moving average of $10.76 and a two-hundred day moving average of $37.05. The firm 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

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

About Gossamer Bio

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.