In a report released yesterday, William Tanner from Cantor Fitzgerald reiterated a Buy rating on Seres Therapeutics (MCRB), with a price target of $15. The company’s shares closed yesterday at $8.88.
Tanner noted:
“: We reiterate our Overweight rating and we are lowering our PT by $1 to $15. We believe MCRB maintains its lead, among our companies, at the forefront of unlocking the potential of the microbiome for treating medical conditions. However, we believe that, for MCRB stock to recover, the company needs to provide unequivocal clinical evidence that the rationally designed, microbiome-based experimental therapies produce a desired effect. Protraction in demonstrating clinical proof of concept for any microbiome company may cause investors to pause, in our view.”
According to TipRanks.com, Tanner is a 3-star analyst with an average return of 1.1% and a 42.0% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Seres Therapeutics with a $15 average price target.
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The company has a one-year high of $11.35 and a one-year low of $5.64. Currently, Seres Therapeutics has an average volume of 111.3K.
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Seres Therapeutics, Inc. is a microbiome therapeutics platform company, which engages in the development of biological drugs. It focuses on implementing microbiome therapeutics platform to develop ecobiotic microbiome therapeutics that treats dysbiosis in the colonic microbiome.
