Seaport Therapeutics’ (SPTX) “Buy” Rating Reiterated at HC Wainwright

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $50.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 129.89% from the stock’s current price.

Other equities analysts have also issued reports about the stock. UBS Group lowered shares of Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th. Leerink Partners assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price target on the stock. Wolfe Research started coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They issued a “hold” rating on the stock. Stifel Nicolaus initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “overweight” rating and a $42.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.33.

Seaport Therapeutics Price Performance

Shares of NASDAQ SPTX opened at $21.75 on Thursday. The firm has a market cap of $1.16 billion and a PE ratio of -1.79. The firm has a fifty day moving average of $22.39. Seaport Therapeutics has a fifty-two week low of $14.85 and a fifty-two week high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last released its earnings results on Monday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($1.07). As a group, equities research analysts expect that Seaport Therapeutics will post -4.6 earnings per share for the current fiscal year.

Insider Activity at Seaport Therapeutics

In other news, Director Robert Hombach bought 13,000 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $18.14 per share, with a total value of $235,820.00. Following the acquisition, the director directly owned 13,000 shares in the company, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Seaport Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. TRV GP VI LLC bought a new stake in Seaport Therapeutics in the second quarter valued at approximately $44,769,742. Braidwell LP purchased a new stake in shares of Seaport Therapeutics in the second quarter worth approximately $10,860,000. Citadel Advisors LLC purchased a new stake in shares of Seaport Therapeutics in the second quarter valued at about $4,152,000. The Manufacturers Life Insurance Company bought a new stake in Seaport Therapeutics during the second quarter worth $1,793,000. Finally, Alyeska Investment Group L.P. bought a new stake in Seaport Therapeutics in the second quarter worth about $1,629,000.

About Seaport Therapeutics

Seaport Therapeutics Inc is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety and other debilitating neuropsychiatric disorders. Seaport Therapeutics Inc is based in BOSTON.