Piper Sandler analyst Edward Tenthoff raised the firm’s price target on Seres Therapeutics to $13 from $9 and keeps an Overweight rating on the shares. Seres hosted an event outlining the company and partner Nestle’s strategy to market SER-109 for the prevention of recurrent C difficile infection, Tenthoff tells investors in a research note. The analyst remains confident SER-109 could be the first-ever microbiome therapy to gain FDA approval by the April 26 action date based on positive Phase III ECOSPOR data. He now forecasts U.S. SER-109 revenue of $52.7M in 2023, $121M in 2024, growing to $1.9B by 2030.
Published first on TheFly
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