Gossamer Bio (NASDAQ:GOSS) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Gossamer Bio (NASDAQ:GOSS) issued its earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02, Zacks reports. The company had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $3.95 million.

Gossamer Bio Trading Up 4.0%

Shares of NASDAQ:GOSS opened at $1.05 on Friday. The company has a market capitalization of $238.58 million, a PE ratio of -3.28 and a beta of 1.82. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 3.64. Gossamer Bio has a 12-month low of $0.50 and a 12-month high of $1.55. The business’s fifty day simple moving average is $1.05 and its 200-day simple moving average is $0.99.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Gossamer Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Wedbush reaffirmed an “outperform” rating and set a $4.00 price target on shares of Gossamer Bio in a research note on Friday, March 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Gossamer Bio in a research note on Tuesday, March 18th.

Institutional Investors Weigh In On Gossamer Bio

A number of institutional investors have recently added to or reduced their stakes in GOSS. Cubist Systematic Strategies LLC bought a new position in shares of Gossamer Bio during the 1st quarter worth approximately $213,000. Invesco Ltd. purchased a new position in Gossamer Bio in the first quarter worth $48,000. Finally, Bank of America Corp DE increased its position in shares of Gossamer Bio by 107.2% during the fourth quarter. Bank of America Corp DE now owns 84,788 shares of the company’s stock worth $77,000 after purchasing an additional 43,866 shares in the last quarter. Institutional investors own 81.23% of the company’s stock.

Gossamer Bio Company Profile

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.