GOSS - Gossamer stock slumps 12% as HC Wainwright/Barclays cut price target following phase 2 trial miss

Gossamer Bio (NASDAQ:GOSS) saw a slew of price cuts from firms after the company's drug GB004 failed a phase 2 trial in mild-to-moderate active ulcerative colitis (UC). H.C. Wainwright analyst Patrick Trucchio lowered the firm's price target on Gossamer to $20 from $25 and kept a Buy rating on the shares. Trucchio said the company announced disappointing top-line data from a phase 2 trial evaluating GB004 in patients with active ulcerative colitis. The analyst removed GB004 from his model, though remains positive on Gossamer shares ahead of the TORREY results expected later this year. The company is evaluating seralutinib (formerly GB002) in a phase 2 trial, dubbed TORREY, to treat pulmonary arterial hypertension. Meanwhile, Barclays analyst Carter Gould lowered the firm's price target on Gossamer (GOSS) to $12 from $18 and kept an Overweight rating. Gould said GB004 miss is not surprising given the recent stock performance and the pulmonary arterial

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Gossamer stock slumps 12% as HC Wainwright/Barclays cut price target following phase 2 trial miss