In a report released today, William Tanner from Cantor Fitzgerald reiterated a Buy rating on Seres Therapeutics (NASDAQ: MCRB), with a price target of $16. The company’s shares opened today at $8.24, close to its 52-week low of $6.65.
Tanner observed:
“We believe the story is in need of solid clinical data. Selecting recurrent C. difficile infection (CDI) was a logical initial target for MCRB to pursue given evidence from fecal microbiota transplantation (FMT) studies that gut flora restoration might be effective. 2 trial of SER-109 was unsuccessful, modifications in parameters in the ongoing Phase 3 ECOSPORIII trial could positively bias the outcome for success, we believe. Given larger potential opportunities in inflammatory bowel disease (IBD) and immuno- oncology (I/O), we wonder if discontinuation of CDI-focused drug development should be considered if ECOSPORIII is not successful.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 7.0% and a 49.7% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
Currently, the analyst consensus on Seres Therapeutics is Strong Buy and the average price target is $18, representing an 118.4% upside.
In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $20 price target.
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The company has a one-year high of $17.42 and a one-year low of $6.65. Currently, Seres Therapeutics has an average volume of 138.1K.
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Seres Therapeutics, Inc. is a microbiome therapeutics platform company, which engages in developing biological drugs. It focuses on implementing microbiome therapeutics platform to develop ecobiotic microbiome therapeutics that treats dysbiosis in the colonic microbiome.
