Leerink Partnrs Raises Earnings Estimates for Gossamer Bio

Gossamer Bio, Inc. (NASDAQ:GOSS - Free Report) - Leerink Partnrs raised their FY2024 earnings estimates for shares of Gossamer Bio in a research note issued on Monday, November 11th. Leerink Partnrs analyst J. Schwartz now expects that the company will post earnings of ($0.32) per share for the year, up from their previous forecast of ($0.41). The consensus estimate for Gossamer Bio's current full-year earnings is ($0.30) per share. Leerink Partnrs also issued estimates for Gossamer Bio's Q4 2024 earnings at ($0.21) EPS, Q1 2025 earnings at ($0.22) EPS, Q2 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.25) EPS, FY2025 earnings at ($0.95) EPS and FY2026 earnings at ($0.79) EPS.

Other analysts also recently issued research reports about the stock. Wedbush reiterated an "outperform" rating and issued a $4.00 price objective on shares of Gossamer Bio in a report on Tuesday, August 13th. HC Wainwright restated a "buy" rating and issued a $10.00 price objective on shares of Gossamer Bio in a report on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Gossamer Bio presently has an average rating of "Buy" and an average price target of $9.20.

Gossamer Bio Price Performance

Shares of GOSS stock traded down $0.05 during trading hours on Thursday, hitting $0.77. 2,228,660 shares of the company's stock were exchanged, compared to its average volume of 1,437,775. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 3.64. The firm has a market cap of $174.48 million, a P/E ratio of -2.42 and a beta of 1.96. Gossamer Bio has a fifty-two week low of $0.50 and a fifty-two week high of $1.60. The firm has a 50 day moving average of $0.94 and a two-hundred day moving average of $0.86.

Gossamer Bio (NASDAQ:GOSS - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.04. The firm had revenue of $9.48 million during the quarter, compared to analysts' expectations of $4.52 million.

Institutional Investors Weigh In On Gossamer Bio

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Gossamer Bio during the first quarter worth $34,000. Vanguard Group Inc. increased its holdings in shares of Gossamer Bio by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 11,763,784 shares of the company's stock valued at $13,881,000 after acquiring an additional 128,150 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Gossamer Bio by 51.6% during the 1st quarter. Acadian Asset Management LLC now owns 2,736,385 shares of the company's stock worth $3,227,000 after acquiring an additional 931,248 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Gossamer Bio by 27.2% in the second quarter. Sequoia Financial Advisors LLC now owns 93,500 shares of the company's stock valued at $84,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Financial Advocates Investment Management increased its stake in Gossamer Bio by 57.5% in the second quarter. Financial Advocates Investment Management now owns 106,850 shares of the company's stock valued at $96,000 after purchasing an additional 39,000 shares during the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

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.