H.C. Wainwright Thinks Gossamer Bio’s Stock is Going to Recover


In a report released today, Patrick Trucchio from H.C. Wainwright maintained a Buy rating on Gossamer Bio (GOSS), with a price target of $15.00. The company’s shares closed last Friday at $9.15, close to its 52-week low of $7.52.

According to TipRanks.com, Trucchio is a 2-star analyst with an average return of 1.9% and a 43.5% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Flexion Therapeutics, and Vir Biotechnology.

Currently, the analyst consensus on Gossamer Bio is a Strong Buy with an average price target of $22.40.

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Based on Gossamer Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $57.81 million. In comparison, last year the company had a GAAP net loss of $48.5 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GOSS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gossamer Bio, Inc. engages in discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology. Its primary product candidate is GB001, which is intended for the treatment of moderate-to-severe eosinophilic asthma and other allergic conditions. The company was founded by Faheem Hasnain and Sheila Gujrathi in 2015 and is headquartered in San Diego, CA.

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