Seres Therapeutics (NASDAQ:MCRB) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.03, Fidelity Earnings reports. Seres Therapeutics had a negative net margin of 264.31% and a negative return on equity of 256.24%. The company had revenue of $9.06 million for the quarter, compared to analysts’ expectations of $23.43 million.
Shares of MCRB traded down $0.48 during mid-day trading on Friday, hitting $8.40. 155,488 shares of the company traded hands, compared to its average volume of 100,299. Seres Therapeutics has a 1-year low of $5.64 and a 1-year high of $11.35. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.85. The company has a market cap of $330.04 million, a P/E ratio of -3.80 and a beta of 0.61.
A number of brokerages have recently issued reports on MCRB. Cantor Fitzgerald set a $15.00 target price on shares of Seres Therapeutics and gave the company a “buy” rating in a research note on Thursday. ValuEngine raised shares of Seres Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday. Chardan Capital reissued a “buy” rating on shares of Seres Therapeutics in a research report on Sunday, October 28th. Oppenheimer set a $16.00 price target on shares of Seres Therapeutics and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Investment Research upgraded shares of Seres Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.81.
A number of large investors have recently modified their holdings of the stock. FMR LLC increased its holdings in Seres Therapeutics by 0.4% in the 3rd quarter. FMR LLC now owns 6,119,349 shares of the biotechnology company’s stock worth $46,446,000 after buying an additional 23,749 shares during the period. BlackRock Inc. increased its holdings in Seres Therapeutics by 1.8% in the 3rd quarter. BlackRock Inc. now owns 2,281,563 shares of the biotechnology company’s stock worth $17,318,000 after buying an additional 40,719 shares during the period. ARK Investment Management LLC increased its holdings in Seres Therapeutics by 23.7% in the 3rd quarter. ARK Investment Management LLC now owns 4,040,735 shares of the biotechnology company’s stock worth $30,669,000 after buying an additional 774,307 shares during the period. JPMorgan Chase & Co. increased its holdings in Seres Therapeutics by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 421,494 shares of the biotechnology company’s stock worth $3,199,000 after buying an additional 25,287 shares during the period. Finally, Northern Trust Corp increased its holdings in Seres Therapeutics by 6.0% in the 2nd quarter. Northern Trust Corp now owns 246,310 shares of the biotechnology company’s stock worth $2,118,000 after buying an additional 14,021 shares during the period. Institutional investors own 77.92% of the company’s stock.
WARNING: “Seres Therapeutics (MCRB) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS” was first reported by Week Herald and is the sole property of of Week Herald. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://weekherald.com/2018/11/10/seres-therapeutics-mcrb-announces-quarterly-earnings-results-beats-expectations-by-0-03-eps.html.
About Seres Therapeutics
Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing biological drugs designed to restore health by repairing the function of a dysbiotic microbiome. Its lead product candidate is SER-109, a bacterial spore ecology, which is in Phase III clinical study to treat multiply recurrent Clostridium difficile infection (CDI).
Recommended Story: What do I need to know about analyst ratings?
Receive News & Ratings for Seres Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seres Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.