Oppenheimer analyst Mark Breidenbach assigned a Buy rating to Seres Therapeutics (NASDAQ: MCRB) yesterday and set a price target of $18. The company’s shares closed yesterday at $8.05, close to its 52-week low of $6.65.
Breidenbach observed:
“Thursday, Seres hosted a microbiome R&D day in New York, largely focusing on the company’s ulcerative colitis (UC) and immuno-oncology (I/O) programs. The event provided an overview of how the gut microbiome influences host immunity, and how it can act to quell localized inflammation in a UC setting or promote systemic immunity in an I/O setting. Seres showcased results from its Phase 1b trial of SER-287 and presented metagenomic and metabolomic data to support its proposed MOA. Management outlined the design of a Phase 2b trial of SER-287, slated to begin enrolling UC patients in 3Q18. On the I/O front, Dr. Jennifer Wargo, Seres’ collaborator from MD Anderson, outlined plans to move SER-401 into the clinic later this year. $18 PT.”
According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 19.3% and a 45.9% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Global Blood Therapeutics, and Sorrento Therapeutics.
Currently, the analyst consensus on Seres Therapeutics is Strong Buy and the average price target is $18, representing a 123.6% upside.
In a report issued on May 9, Canaccord Genuity also maintained a Buy rating on the stock with a $20 price target.
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Based on Seres Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $27.92 million. In comparison, last year the company had a GAAP net loss of $25.47 million.
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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.
