Gossamer Bio gains as UBS starts coverage with 'buy'

Hanall Biopharma

06/04/2022 16:25

** Shares of biopharma co  GOSS.O  rise as much as ~6% to
$9.27 - stock among top pct gainers on Nasdaq Biotechnology
Index  .NBI  
    ** UBS initiates coverage of GOSS with "buy" rating and PT
of $19; says co has diversified drug portfolio, with many
potential high-value programs
    ** ** Brokerage thinks if co's oral ulcerative colitis (UC)
drug GB004 is successful, it has large market potential due to
its unique gut-restricting mechanism
    ** UBS sees high unmet need remaining in pulmonary arterial
hypertension indication; says GB002's inhaled delivery and
unique mechanism shows clear opportunity if GOSS can improve
clinical outcomes
    ** Brokerage estimates $3 bln and $1 bln in peak sales
potential for GB004 and GB002, respectively
    ** All 8 brokerages covering stock rate it "buy" or higher;
their median PT is $21, pointing to over 2x potential upside to
Tuesday's close 
    ** As of last close, GOSS down ~26% YTD  

    

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))