Seres Therapeutics price target raised to $15 from $11 at Canaccord

Canaccord analyst John Newman raised the firm’s price target on Seres Therapeutics to $15 from $11 and keeps a Buy rating on the shares. The analyst said SER-109 will have the bulk of mind share leading up to the PDUFA date on 04/26/23, as Seres may become the first company to have an FDA-approved oral microbiome therapeutic. Importantly, we believe the May 2023 Phase 1b data release for SER-155 will showcase the expansive potential of microbiome therapeutics.