Oppenheimer Brokers Raise Earnings Estimates for Seres Therapeutics Inc (NASDAQ:MCRB)

Seres Therapeutics Inc (NASDAQ:MCRB) – Oppenheimer increased their Q3 2020 earnings estimates for Seres Therapeutics in a report issued on Tuesday, July 28th. Oppenheimer analyst M. Breidenbach now forecasts that the biotechnology company will post earnings of ($0.21) per share for the quarter, up from their previous estimate of ($0.23). Oppenheimer currently has a “Buy” rating and a $7.00 target price on the stock. Oppenheimer also issued estimates for Seres Therapeutics’ Q4 2020 earnings at ($0.19) EPS, FY2020 earnings at ($0.96) EPS and FY2021 earnings at ($0.90) EPS.

Seres Therapeutics (NASDAQ:MCRB) last issued its earnings results on Tuesday, July 28th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.02). The business had revenue of $6.05 million for the quarter, compared to the consensus estimate of $9.67 million.

Several other equities analysts have also commented on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Seres Therapeutics in a research report on Friday, May 8th. Zacks Investment Research cut shares of Seres Therapeutics from a “buy” rating to a “sell” rating in a research note on Thursday. BidaskClub cut shares of Seres Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. ValuEngine cut shares of Seres Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Chardan Capital reaffirmed a “market perform” rating and set a $12.50 price objective on shares of Seres Therapeutics in a research note on Thursday, June 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.70.

Shares of Seres Therapeutics stock opened at $3.74 on Friday. The firm has a market capitalization of $271.52 million, a P/E ratio of -3.60 and a beta of 1.13. The company has a 50 day moving average price of $4.62 and a 200 day moving average price of $4.01. Seres Therapeutics has a 52 week low of $2.15 and a 52 week high of $6.75.

Several hedge funds and other institutional investors have recently made changes to their positions in MCRB. Citigroup Inc. raised its stake in shares of Seres Therapeutics by 15.0% in the 1st quarter. Citigroup Inc. now owns 15,802 shares of the biotechnology company’s stock worth $56,000 after buying an additional 2,060 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Seres Therapeutics by 7.4% in the 1st quarter. Russell Investments Group Ltd. now owns 63,334 shares of the biotechnology company’s stock worth $225,000 after buying an additional 4,371 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Seres Therapeutics by 162.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,351 shares of the biotechnology company’s stock worth $41,000 after buying an additional 7,025 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Seres Therapeutics by 227.2% in the 1st quarter. Royal Bank of Canada now owns 10,445 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 7,253 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Seres Therapeutics by 12.1% in the 1st quarter. Wells Fargo & Company MN now owns 81,836 shares of the biotechnology company’s stock worth $292,000 after acquiring an additional 8,811 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

About Seres Therapeutics

Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing biological drugs that are designed to treat disease by restoring the function of a dysbiotic microbiome. The company's advanced program is the SER-109, which is in Phase III clinical development for reducing recurrent clostridium difficile infection (CDI).

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Earnings History and Estimates for Seres Therapeutics (NASDAQ:MCRB)

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