Gossamer Bio, Inc. (NASDAQ:GOSS) has received a consensus recommendation of “Moderate Buy” from six research firms currently covering the company, according to MarketBeat. Among these, one analyst has issued a sell recommendation, while five have expressed a buy stance. The average one-year price target for the stock stands at $8.50, reflecting a cautious optimism among market analysts.
Analyst Ratings and Price Movements
The stock has been the subject of various rating updates over the past months. On October 8, 2023, Weiss Ratings reiterated a “sell (d-)” rating for Gossamer Bio. In contrast, Cantor Fitzgerald reaffirmed an “overweight” rating in a report dated September 11, 2023. Further, Wedbush raised its price target from $4.00 to $5.00, assigning an “outperform” rating on August 6, 2023. More recently, Wall Street Zen upgraded Gossamer Bio from a “sell” to a “hold” rating on November 8, 2023.
As of Monday, Gossamer Bio shares opened at $3.34. Over the past year, the stock has seen a low of $0.67 and a high of $3.60. The company currently has a market capitalization of $773.08 million and a price-to-earnings (P/E) ratio of -4.84, indicating challenges in profitability. The stock’s beta is 1.85, suggesting higher volatility compared to the market.
Financial Performance and Future Projections
In its latest quarterly earnings report issued on November 5, 2023, Gossamer Bio reported earnings per share of ($0.21), falling short of analysts’ consensus estimate of ($0.19) by $0.02. The company generated revenue of $13.29 million during the quarter, significantly exceeding the anticipated $6.32 million.
Despite the revenue overperformance, Gossamer Bio reported a negative return on equity of 1,774.72% and a net margin of -354.50%. Looking ahead, analysts project the company will post earnings of ($0.28) per share for the current fiscal year.
Gossamer Bio specializes in developing and commercializing therapeutic solutions for pulmonary arterial hypertension (PAH). The company is advancing its lead candidate, seralutinib, and is currently conducting a Phase 3 clinical trial for another product, GB002, which targets multiple pathways involved in PAH treatment.
For investors and stakeholders, Gossamer Bio represents a complex opportunity in the biopharmaceutical sector, balancing potential growth against current financial challenges.
