Seres Therapeutics price target lowered to $6 from $8 at Chardan

Chardan lowered the firm’s price target on Seres Therapeutics to $6 from $8 and keeps a Buy rating on the shares post the Q1 report. The lower price target reflects a higher projected future share count as modeled future capital raises are expected to be more dilutive due to the current lower share price, the analyst tells investors in a research note. The firm adds that Q1 sales of Vowst were disappointing.