GOSS - Gossamer Bio stock rises 8% as UBS initiates with Buy on 'near-term upside'

Gossamer Bio [[GOSS, +8%]] was initiated with a Buy at UBS with a price target of $19. UBS said it thinks Gossamer's (NASDAQ:GOSS) clinical portfolio is underappreciated with near-term upside in 2022. The firm said Gossamer's has three programs — GB004 for ulcerative colitis (UC), GB002 for pulmonary arterial hypertension (PAH), and BTK inhibitor franchise (CNS lymphoma) — and each program, on its own, has significant commercial ($1-$3B+) if successful in its view vs. current market cap of ~$700M. UBS added that with phase 2 data from UC (late April/early May) and PAH (H2 2022) and BTK updates in '23, it see the next 12-18 months as a potential inflection point for shares and see favorable risk-reward  given the diversified pipeline. The firm estimates $3B and $1B in peak sales potential for UC (GB004) and PAH (GB002) respectively. Beyond UC and PAH, emerging CNS penetrant BTK programs (oncology and  multiple sclerosis), could be first to market in Gossamer's

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Gossamer Bio stock rises 8% as UBS initiates with Buy on 'near-term upside'