Gossamer Bio initiated with an Outperform at Scotiabank

Scotiabank initiated coverage of Gossamer Bio (GOSS) with an Outperform rating and $11 price target The firm likes the company’s approach in pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Gossamer’s lead asset seralutinib could see significant uptake given its novel mechanism of action as an inhaled tyrosine kinase inhibitor, the analyst tells investors in a research note. Scotiabank thinks the therapy to be an adjunct to standard of care.