In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Seres Therapeutics (NASDAQ: MCRB), with a price target of $20. The company’s shares opened today at $8.18, close to its 52-week low of $6.65.
Newman wrote:
“We would like to remind investors that the FDA has designated endoscopic response as the preferred endpoint in UC going forward, which should help SER-287 better demonstrate its clinical benefit. Previous Phase 1b induction study (n = 58) showed a dose-dependent improvement in clinical remission rates and endoscopic scores. We determined that if missing trial data is counted as failure, SER-287 showed 40% clinical remission for vancomycin/daily SER-287 vs 0% for placebo (p<0.0237), with endoscopic improvement at 41% for active arm vs 9.1% for placebo. Furthermore, previous microbiome data analysis showed a dose-dependent engraftment to the colonic microbiome, which provided a mechanistic support to SER-287's clinical benefit. We will continue to monitor the trial design development and provide further assessment."
According to TipRanks.com, Newman is a 5-star analyst with an average return of 15.9% and a 44.9% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Synergy Pharmaceuticals Inc, and Aileron Therapeutics Inc.
Seres Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $18.
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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.
