Gossamer Bio downgraded to Neutral from Buy at UBS

UBS analyst Eliana Merle downgraded Gossamer Bio to Neutral from Buy with a price target of $1.25, down from $8.00. The next few years are more about execution, with the Phase 3 seralutinib readout likely in 2025 as key to gain more confidence, though the firm continues to see meaningful and underappreciated potential for seralutinib as an inhaled agent with a unique MOA in PAH, the analyst tells investors in a research note. UBS sees seralutinib’s potential as underappreciated from a long-term perspective.