Gossamer Bio (GOSS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on June 16. Analyst Joseph Schwartz from Leerink Partners maintained a Buy rating on the stock and has a $6.00 price target.
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Joseph Schwartz’s rating is based on several key factors surrounding Gossamer Bio’s recent developments. The completion of enrollment for the Phase 3 PROSERA study, which exceeded initial expectations, indicates strong progress in their clinical trials for seralutinib in treating pulmonary arterial hypertension (PAH). This study is particularly focused on patients with more severe conditions, which aligns with the positive outcomes observed in the earlier Phase 2 TORREY study.
Additionally, despite the competition from Merck’s sotatercept, there is still a perceived opportunity for seralutinib to establish its place in the treatment landscape. The updated baseline characteristics of the PROSERA study suggest that the enrolled patients are likely to respond well to the treatment, further supporting the potential success of the trial. These factors combined contribute to Schwartz’s optimistic outlook and the Buy rating for Gossamer Bio’s stock.
Schwartz covers the Healthcare sector, focusing on stocks such as uniQure, KalVista Pharmaceuticals, and Insmed. According to TipRanks, Schwartz has an average return of 10.1% and a 40.99% success rate on recommended stocks.