There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Seres Therapeutics (NASDAQ:MCRB) and Exelixis (NASDAQ:EXEL) with bullish sentiments.
Seres Therapeutics (MCRB)
In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Seres Therapeutics, with a price target of $20. The company’s shares opened today at $7.28, close to its 52-week low of $6.65.
Newman said:
“We are expecting MCRB to initiate a Phase 2b trial for SER-287 in mild-to-moderate ulcerative colitis (UC) within the next few months, and the trial could be considered pivotal, a major positive and may shorten time to market. The trial will enroll 208 patients into four arms and dose daily with high dose of SER-287; the trial also includes a 10-week induction period and a 28-week maintenance exploratory follow-up. The primary endpoint of the trial is clinical remission, but we believe endoscopic remission would be measured, which is viewed as the most objective endpoint to the FDA.”
According to TipRanks.com, Newman is a 5-star analyst with an average return of 17.7% and a 45.0% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Synergy Pharmaceuticals Inc, and Atara Biotherapeutics.
Currently, the analyst consensus on Seres Therapeutics is a Strong Buy with an average price target of $18.
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Exelixis (EXEL)
In a report released today, Boris Peaker from Cowen & Co. maintained a Buy rating on Exelixis. The company’s shares opened today at $21.02.
According to TipRanks.com, Peaker is a 5-star analyst with an average return of 14.2% and a 48.9% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Stemline Therapeutics Inc, Mersana Therapeutics Inc, and Jounce Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exelixis with a $33 average price target, a 57.0% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $40 price target.
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