Seres Therapeutics (NASDAQ:MCRB) Price Target Lowered to $32.00 at Piper Sandler

Seres Therapeutics (NASDAQ:MCRB) had its price target dropped by equities research analysts at Piper Sandler from $40.00 to $32.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price would suggest a potential upside of 303.02% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Chardan Capital began coverage on shares of Seres Therapeutics in a research note on Friday, July 9th. They issued a “buy” rating and a $30.00 target price for the company. HC Wainwright boosted their target price on shares of Seres Therapeutics from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Finally, Zacks Investment Research raised shares of Seres Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, July 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.17.

Shares of Seres Therapeutics stock traded down $12.89 on Thursday, hitting $7.94. The company’s stock had a trading volume of 643,351 shares, compared to its average volume of 986,181. Seres Therapeutics has a 52-week low of $3.67 and a 52-week high of $38.50. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $21.21. The stock has a market cap of $727.94 million, a P/E ratio of -6.56 and a beta of 3.93.

Seres Therapeutics (NASDAQ:MCRB) last announced its earnings results on Tuesday, May 4th. The biotechnology company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.06). Seres Therapeutics had a negative net margin of 340.59% and a negative return on equity of 94.99%. The firm had revenue of $5.72 million during the quarter, compared to analyst estimates of $5.30 million. As a group, analysts expect that Seres Therapeutics will post -1.58 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Seres Therapeutics by 16.1% during the 4th quarter. Bank of New York Mellon Corp now owns 218,312 shares of the biotechnology company’s stock worth $5,349,000 after purchasing an additional 30,326 shares in the last quarter. Rhumbline Advisers increased its position in Seres Therapeutics by 14.3% during the 4th quarter. Rhumbline Advisers now owns 75,626 shares of the biotechnology company’s stock worth $1,853,000 after purchasing an additional 9,442 shares in the last quarter. Citigroup Inc. increased its position in Seres Therapeutics by 60.3% during the 4th quarter. Citigroup Inc. now owns 16,245 shares of the biotechnology company’s stock worth $398,000 after purchasing an additional 6,113 shares in the last quarter. Northern Trust Corp increased its position in Seres Therapeutics by 4.9% during the 4th quarter. Northern Trust Corp now owns 685,317 shares of the biotechnology company’s stock worth $16,790,000 after purchasing an additional 32,180 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Seres Therapeutics by 8.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,284 shares of the biotechnology company’s stock worth $815,000 after purchasing an additional 2,674 shares in the last quarter. 98.12% of the stock is owned by institutional investors.

About Seres Therapeutics

Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease. The company's lead product candidate is the SER-109, an oral microbiome therapeutic candidate that has completed Phase III clinical trial for the treatment of clostridium difficile infection (CDI).

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