After H.C. Wainwright and Oppenheimer gave Seres Therapeutics (NASDAQ: MCRB) a Buy rating last month, the company received another Buy, this time from Chardan Capital. Analyst Taylor Feehley reiterated a Buy rating on Seres Therapeutics today and set a price target of $15. The company’s shares opened today at $5.37.
Feehley wrote:
“We see this new agreement as an important positive for Seres and further validation that I/O will be a key area for microbiome medicines (MMs) moving forward. As highlighted in our 21 October 2018 research, early interest and collaboration/investment from big pharma is a differentiated feature of MMs that may help support a near- term emergence. This partnership with Seres is the 1st microbiome medicines investment we are aware of for AstraZeneca but follows on the trend of other big pharma interest in this emerging technology.”
According to TipRanks.com, Feehley is a 2-star analyst with an average return of -1.5% and a 40.0% success rate. Feehley covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Evelo Biosciences Inc, and Synlogic Inc.
Currently, the analyst consensus on Seres Therapeutics is a Strong Buy with an average price target of $14, implying a 160.7% upside from current levels. In a report issued on March 6, Cowen & Co. also maintained a Buy rating on the stock.
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Based on Seres Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $21.29 million. In comparison, last year the company had a GAAP net loss of $28.95 million.
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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.
