Oppenheimer Thinks Seres Therapeutics’ Stock is Going to Recover


In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Seres Therapeutics (MCRB), with a price target of $16. The company’s shares opened today at $4.79, close to its 52-week low of $4.42.

Breidenbach commented:

“Thursday, Seres announced the initiation of the Phase 2b ECO-RESET trial in mild- to-moderate ulcerative colitis (UC), triggering a $40M milestone payment from partner Nestlé Health. The study will investigate SER-287’s ability to induce clinical remission and is similar in design to a prior randomized Phase 1b trial, in which daily dosing of SER-287 elicited a significant improvement in remission rate. The FDA has advised Seres that ECO-RESET could serve as the first of two pivotal trials required to support a BLA filing. We see SER-287 as the primary value driver for $40M milestone could extend the company’s operational runway into 4Q19. We believe positive data from ECO-RESET may rekindle investor enthusiasm for the company’s ecobiotic platform technology. Reiterate Outperform, $16 PT.”

According to TipRanks.com, Breidenbach ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.4% and a 28.2% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.

Seres Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $15.33, a 220.0% upside from current levels. In a report released today, Chardan Capital also reiterated a Buy rating on the stock with a $15 price target.

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The company has a one-year high of $11.35 and a one-year low of $4.42. Currently, Seres Therapeutics has an average volume of 105.3K.

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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.

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