.jpg "Oppenheimer Thinks Seres Therapeutics")
In a report released today, Mark Breidenbach from Oppenheimer reiterated a Buy rating on Seres Therapeutics (NASDAQ: MCRB), with a price target of $18. The company’s shares opened today at $8.18, close to its 52-week low of $6.65.
Breidenbach said:
“Wednesday, Seres reported 1Q18 results and provided an update on recent progress. On the call, management underscored plans to initiate the next clinical trial of SER-287 in ulcerative colitis (UC) based on feedback from the FDA. While the protocol has not been finalized, we expect details to emerge at an upcoming R&D Day. Turning to SER-109, management indicated the pivotal ECOSPOR III study in recurrent C. difficile infection (CDI) now has >100 clinical sites open in North America. While Seres has not disclosed enrollment rate, we speculate top-line results from the 320- patient trial could be announced in mid-2019. Our valuation is primarily focused on the company’s Phase 3 SER-109 program and SER-287, which demonstrated clinical proof-of-concept last October. $18 PT.”
According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 17.9% and a 44.7% 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 120.0% upside.
In a report released today, 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 140.8K.
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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.
