Seres Therapeutics Inc (NASDAQ:MCRB) to Post Q3 2020 Earnings of ($0.22) Per Share, Oppenheimer Forecasts

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Seres Therapeutics Inc (NASDAQ:MCRB) – Equities researchers at Oppenheimer cut their Q3 2020 EPS estimates for shares of Seres Therapeutics in a research note issued to investors on Sunday, September 13th. Oppenheimer analyst M. Breidenbach now forecasts that the biotechnology company will earn ($0.22) per share for the quarter, down from their previous forecast of ($0.21). Oppenheimer currently has a “Buy” rating and a $29.00 target price on the stock. Oppenheimer also issued estimates for Seres Therapeutics’ Q4 2020 earnings at ($0.25) EPS, FY2020 earnings at ($1.02) EPS, Q1 2021 earnings at ($0.29) EPS, FY2021 earnings at ($1.24) EPS, FY2022 earnings at ($1.09) EPS and FY2023 earnings at ($0.23) EPS.

Seres Therapeutics (NASDAQ:MCRB) last announced its earnings results on Tuesday, July 28th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). The company had revenue of $6.05 million for the quarter, compared to analysts’ expectations of $9.67 million.

MCRB has been the topic of several other reports. BidaskClub cut shares of Seres Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Canaccord Genuity boosted their price target on shares of Seres Therapeutics from $11.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. HC Wainwright boosted their price target on shares of Seres Therapeutics from $8.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Chardan Capital boosted their price target on shares of Seres Therapeutics from $12.50 to $32.50 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Piper Sandler initiated coverage on shares of Seres Therapeutics in a research report on Tuesday, August 18th. They set an “overweight” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Seres Therapeutics presently has an average rating of “Buy” and an average target price of $30.64.

Shares of NASDAQ:MCRB opened at $27.33 on Wednesday. The company’s 50-day moving average price is $19.36 and its two-hundred day moving average price is $7.98. Seres Therapeutics has a one year low of $2.52 and a one year high of $33.00. The stock has a market capitalization of $2.08 billion, a PE ratio of -26.28 and a beta of 4.50.

Several hedge funds have recently modified their holdings of the company. Two Sigma Advisers LP raised its holdings in shares of Seres Therapeutics by 30.9% in the 2nd quarter. Two Sigma Advisers LP now owns 116,900 shares of the biotechnology company’s stock valued at $556,000 after purchasing an additional 27,600 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Seres Therapeutics by 10.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 258,047 shares of the biotechnology company’s stock valued at $1,229,000 after purchasing an additional 25,372 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Seres Therapeutics by 6.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 415,888 shares of the biotechnology company’s stock valued at $1,980,000 after purchasing an additional 26,421 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Seres Therapeutics by 10.8% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 235,307 shares of the biotechnology company’s stock valued at $1,120,000 after purchasing an additional 22,928 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Seres Therapeutics by 22.2% in the 2nd quarter. Jane Street Group LLC now owns 14,327 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 2,605 shares during the period. 94.42% of the stock is currently owned by institutional investors.

Seres Therapeutics Company Profile

Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing biological drugs that are designed to treat disease by restoring the function of a dysbiotic microbiome. The company's advanced program is the SER-109, which is in Phase III clinical development for reducing recurrent clostridium difficile infection (CDI).

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Earnings History and Estimates for Seres Therapeutics (NASDAQ:MCRB)

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