After Cowen & Co. and H.C. Wainwright 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 yesterday and set a price target of $14. The company’s shares closed yesterday at $6.12.
Breidenbach said:
“Tuesday, Seres reported 4Q18 results and reviewed recent progress. With new leadership at the helm, management outlined its recent reprioritization of core programs including SER-287, SER-109, and SER-401. Management guided that the ongoing Phase 2b trial of SER-287 in ulcerative colitis could complete enrollment by mid-2020, which we believe could translate to topline data by late 2020. 1b trial of SER-401 has been initiated and could deliver early results in 2020. Seres is evaluating structural changes to accelerate enrollment in the ongoing Phase 3 trial of SER-109 which could potentially add risk to the program. Despite a near- term financing overhang, patient investors could be rewarded with multiple readouts in 2020. We reiterate Outperform, but lower our PT to $14 (from $16).”
According to TipRanks.com, Breidenbach is a 1-star analyst with an average return of -0.3% 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 $15, implying a 145.1% upside from current levels. In a report issued on February 22, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $16 price target.
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The company has a one-year high of $10.02 and a one-year low of $4.42. Currently, Seres Therapeutics has an average volume of 113.3K.
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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.
