Analyst John Newman of Canaccord Genuity maintained a Buy rating on Seres Therapeutics (MCRB – Research Report), retaining the price target of $10.00.
John Newman’s rating is based on several promising developments at Seres Therapeutics. The company’s SER-155 study has shown positive results, particularly in reducing bloodstream infections within a 30-day period, which is a favorable endpoint for future studies. This progress is likely to enhance partnership opportunities, which could provide additional financial support for the study’s continuation.
Furthermore, Seres has secured significant financial backing from Nestle, with a $50 million installment already received and an additional $23.5 million expected, extending their cash runway into early 2026. This financial stability, coupled with the potential for breakthrough therapy designation, underpins Newman’s confidence in the company’s future, justifying the Buy rating and a price target of $10.
According to TipRanks, Newman is an analyst with an average return of -4.5% and a 32.53% success rate. Newman covers the Healthcare sector, focusing on stocks such as Delcath Systems, Regeneron, and Merus.