Cowen & Co. Thinks Seres Therapeutics’ Stock is Going to Recover

By Jason Carr

In a report released today, Chris Shibutani from Cowen & Co. reiterated a Buy rating on Seres Therapeutics (NASDAQ: MCRB). The company’s shares opened today at $9.88, close to its 52-week low of $8.05.

Shibutani said:

“We are optimistic that modifications to the clinical trial plan for SER-109 in recurrent.”

According to TipRanks.com, Shibutani is a 5-star analyst with an average return of 23.8% and a 63.6% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Lexicon Pharmaceuticals, and Five Prime Therapeutics.

Currently, the analyst consensus on Seres Therapeutics is Strong Buy and the average price target is $18, representing an 82.2% upside.

In a report issued on May 4, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $16 price target.

Based on Seres Therapeutics’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $3.02 million and GAAP net loss of $25.47 million. In comparison, last year the company earned revenue of $2.71 million and had a GAAP net loss of $19.7 million.

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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 treat dysbiosis in the colonic microbiome. The company was founded by Geoffrey von Maltzahn, David A. Berry and Noubar B. Afeyan on October 18, 2010 and is headquartered in Cambridge, MA.