After H.C. Wainwright and Cowen & Co. gave Seres Therapeutics (NASDAQ: MCRB) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Mark Breidenbach maintained a Buy rating on Seres Therapeutics today and set a price target of $14. The company’s shares opened today at $5.37.
Breidenbach said:
“Monday, Seres announced a multi-year research collaboration with AstraZeneca to investigate microbiome-targeting therapies to improve the efficacy of immuno- oncology (I/O) drugs. Per the agreement, AstraZeneca will pay a span of three years and reimburse research-related expenses, in exchange for a right of first refusal to any programs that arise out of the collaboration. The AstraZenca agreement marks the second clinical collaboration for Seres with a large biopharma company, and we believe AstraZeneca’s interest is supported by mounting evidence suggesting that the gut microbiome can dramatically influence response to PD-1/PD-L1 blockade. The company recently initiated a Phase 1b trial investigating Seres’ donor-derived Ecobiotic SER-401 in combination with Nivolumab in melanoma patients. $14 PT.”
According to TipRanks.com, Breidenbach is ranked 0 out of 5 stars with an average return of -3.3% and a 35.4% 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 $14, representing a 160.7% upside. 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.
