In a report released yesterday, Mark Breidenbach from Oppenheimer maintained a Buy rating on Seres Therapeutics (NASDAQ: MCRB), with a price target of $17. The company’s shares closed yesterday at $7.41, close to its 52-week low of $6.65.
Breidenbach noted:
“Thursday, Seres reported 2Q results and provided a corporate update. Despite having >100 active North American clinical sites, the pivotal ECOSPOR III trial of SER-109 is enrolling slower than our expectations, possibly due to the protocol’s strict eligibility criteria. We believe the inherent variability of recurrent C. difficile infection (CDI) patients can be minimized with careful screening, and investor patience will eventually be rewarded. In 2H18, we expect tangible progress from SER-287 and SER-401 programs in ulcerative colitis (UC) and melanoma, respectively; the first of two pivotal SER-287 trials is slated to initiate within months, and a Phase 1 study of SER-401 is planned for late 2018. Reiterate Outperform, but adjusting our target to $17 (from $18) to reflect revised development timelines.”
According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 10.3% and a 41.5% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
Currently, the analyst consensus on Seres Therapeutics is a Strong Buy with an average price target of $18, a 142.9% upside from current levels. 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 146.6K.
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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.
