Canaccord raised the firm’s price target on Seres Therapeutics (MCRB) to $22 from $14 and keeps a Buy rating on the shares. The firm noted the FDA provided feedback on Seres’ proposed Phase 2 SER-155 study in bloodstream infections, which could aid in partnership discussions while also noting Seres is reducing staff by 25%, including August 2025 reductions, which should provide sufficient cash to fund operations into 2Q26.
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