Oppenheimer starts Gossamer Bio at Outperform on seralutinib potential

As previously reported, Oppenheimer analyst Andreas Argyrides initiated coverage of Gossamer Bio with an Outperform rating and $9 price target. Gossamer’s lead asset seralutinib is an inhaled tyrosine kinase inhibitor in Phase 3 development for the treatment of pulmonary arterial hypertension, or PAH, as well as pulmonary hypertension associated with interstitial lung disease, or PH-ILD, notes the analyst, who sees seralutinib emerging as a preferred choice among severe PAH patients who are not adequately served by currently available therapies given the drug’s “unique safety and efficacy profile.” With shares trading below cash, the firm sees “an attractive entry point at current levels,” the analyst tells investors.