In a report released yesterday, John Newman from Canaccord Genuity maintained a Buy rating on Seres Therapeutics, with a price target of $14.00.
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John Newman’s rating is based on several promising developments at Seres Therapeutics. The submission of the Phase 2 study protocol for SER-155 to the FDA is a significant step, with the potential for a quick interim result following the trial’s initiation. This study aims to prevent bloodstream infections in allogeneic transplant patients, which could be a crucial advancement in the field.
Additionally, Seres is actively seeking strategic partnerships, which could include mergers, acquisitions, or funding for their SER-155 program. The company’s collaboration with MSKCC to explore SER-155’s potential in treating immune checkpoint related enterocolitis further demonstrates its commitment to expanding its therapeutic applications. With a solid cash position and anticipated payments from Nestle, Seres is well-positioned financially to support its initiatives, justifying the Buy rating and a price target of $14.