Seres Therapeutics price target lowered to $9 from $10 at Oppenheimer

Oppenheimer lowered the firm’s price target on Seres Therapeutics to $9 from $10 and keeps an Outperform rating on the shares after meeting with management following the early announcement of year-end sales for VOWST. VOWST sales came in under forecast at $10.4M vs. Oppenheimer/consensus $12.7M/$13.4M. This represented a 27% increase from Q3. The firm was most impressed with the 90% quarter-over-quarter increase in new prescribers, and 160% increase in physicians prescribing to more than 1 patient.