Gossamer Bio shares rise 10.59% intraday after Oppenheimer raises price target to $12 from $9 and maintains Outperform rating.

Gossamer Bio surged 10.59% intraday after Oppenheimer raised its price target for the stock to $12 from $9 while maintaining an Outperform rating. The upgrade, announced at 09:08 am EST, reflects renewed confidence in the biopharmaceutical company’s development of seralutinib, an inhaled therapy in Phase III trials for pulmonary arterial hypertension (PAH). Analysts highlighted the drug’s potential to address underlying disease mechanisms through PDGFR, CSF1R, and c-KIT inhibition, differentiating it from existing vasodilatory treatments. The revised price target and bullish stance likely spurred investor optimism, driving the intraday rally.