Canaccord Genuity Reiterates a Buy Rating on Seres Therapeutics

By Carrie Williams

In a report released today, John Newman from Canaccord Genuity reiterated a Buy rating on Seres Therapeutics (NASDAQ: MCRB), with a price target of $20. The company’s shares opened today at $10.31, close to its 52-week low of $8.05.

Newman said:

“We believe that SER-109 Phase 2 trial study power was decreased by the inclusion of misdiagnosed and non-disease active patients. MCRB indicated that 72 of the 89 patients enrolled in the Phase 2 trials were chosen based on C. Difficile PCR diagnosis. A positive PCR test indicates that the cytotoxin gene is present, but does not directly indicate that the C. Difficile bacterium is producing the cytotoxin that causes the underlying symptoms. Thus a direct testing of cytotoxin is the most indicative of disease activity, and further qualifying stool samples analysis showed that only 15 of 31 PCR- positive samples were cytotoxin-positive. Importantly, Optimer utilized toxin testing for its fidaxomicin clinical program for recurrent C.”

According to, Newman is ranked 0 out of 5 stars with an average return of -14.7% and a 30.6% success rate. Newman covers the Healthcare sector, focusing on stocks such as Advanced Accelerator Applications, Hutchison China MediTech Ltd, and Dimension Therapeutics Inc.

Currently, the analyst consensus on Seres Therapeutics is Strong Buy and the average price target is $14, representing a 35.8% upside.

In a report released today, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $16 price target.

The company has a one year high of $35.98 and a one year low of $8.05. Currently, Seres Therapeutics has an average volume of 242.6K.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.

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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.