Seres Therapeutics stock rose 389.2 percent on Monday and closed at $22.70 with a market capitalization of $1.7 billion. The stock has risen by 455.0 percent in the last five days and 743.9 percent in the trailing 12-month period.
What is Seres Therapeutics' stock price?
Seres Therapeutics stock is trading 31.2 percent below its 52-week high of $33.00 and 800.8 percent above its 52-week low of $2.52. Year-to-date, the stock had risen by 558.0 percent as of Monday.
What does Seres Therapeutics do?
Seres Therapeutics is a biotechnology company. The stock surged more than 350 percent on Monday after the company’s lead drug met the main goal in the Phase 3 study.
Seres Therapeutics reported promising results from the Phase 3 ECOSPOR III study evaluating its investigational oral microbiome therapeutic SER-109 for a colon infection. During the study, the drug didn’t have any serious negative events and was well tolerated. The market opportunity for Seres Therapeutics’ experimental treatment could be significant.
In the press release, Seres Therapeutics CEO Eric D. Shaff said, “We are extremely pleased with these highly clinically meaningful SER-109 Phase 3 study results, greatly exceeding the statistical threshold provided by the FDA. Based on our prior discussions with the FDA, we believe this trial should provide the efficacy basis for submitting an application for product approval.”
In the second quarter, Seres Therapeutics reported an EPS of -$0.28 compared to -$0.24 in the second quarter of 2019. The EPS missed analysts’ consensus estimate of -$0.26. Seres Therapeutics generated sales of $6.05 million in the second quarter, which was 51.8 percent less than the second quarter of 2019. The company missed analysts’ consensus sales estimate of $9.55 million.
Seres Therapeutics' stock forecast
Among the seven analysts covering Seres Therapeutics stock, six recommend a buy and one recommends a hold. None of the analysts recommend a sell. The 12-month mean target price for Seres Therapeutics stock is $8.08, which is 64.4 percent lower than its price on Monday. Analysts' target price for the stock has risen from $8.04 in July—a growth of 0.5 percent.
Many analysts increased their target price for Seres Therapeutics stock after its positive drug data on Monday.
- Jefferies upgraded the stock from hold to buy and increased its target price from $4 to $29.
- Oppenheimer increased its target price from $7 to $30 and maintained an outperform rating.
- Canaccord increased its target price from $11 to $38 and maintained a buy rating.
- H.C. Wainwright increased its target price from $8 to $41 and maintained a buy rating.
- Chardan Capital Markets increased its target price from $12.50 to $32.50 and maintained a buy rating.