Seaport Therapeutics (NASDAQ:SPTX) Stock Rating Reaffirmed as “Buy” by HC Wainwright

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued on Thursday, Marketbeat reports. They presently have a $50.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 179.17% from the stock’s current price.

Other analysts have also recently issued reports about the company. Weiss Ratings cut Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. JonesTrading started coverage on Seaport Therapeutics in a research report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price target on the stock. Wolfe Research started coverage on Seaport Therapeutics in a research report on Tuesday, July 7th. They issued a “hold” rating on the stock. Seaport Research Partners set a $46.00 price target on Seaport Therapeutics in a research report on Friday, September 25th. Finally, Raymond James Financial started coverage on Seaport Therapeutics in a research report on Friday, September 25th. They issued a “strong-buy” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.57.

Seaport Therapeutics Stock Performance

Shares of SPTX traded down $0.02 on Thursday, reaching $17.91. 177,595 shares of the stock traded hands, compared to its average volume of 225,826. The firm has a market cap of $958.72 million and a price-to-earnings ratio of -1.48. Seaport Therapeutics has a 12 month low of $14.85 and a 12 month high of $28.38. The stock’s 50-day moving average is $22.54.

Seaport Therapeutics (NASDAQ:SPTX) last released its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). As a group, equities research analysts anticipate that Seaport Therapeutics will post -4.52 earnings per share for the current year.

Institutional Trading of Seaport Therapeutics

Large investors have recently bought and sold shares of the stock. HighTower Advisors LLC bought a new stake in shares of Seaport Therapeutics during the second quarter worth $362,000. Squarepoint Ops LLC bought a new stake in shares of Seaport Therapeutics during the second quarter worth $538,000. State Street Corp bought a new stake in shares of Seaport Therapeutics during the second quarter worth $1,448,000. Alyeska Investment Group L.P. bought a new stake in shares of Seaport Therapeutics during the second quarter worth $1,629,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Seaport Therapeutics during the second quarter worth $1,793,000.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for neuropsychiatric and neurological disorders. The company’s research emphasizes therapies that modulate the brain’s GABAergic system, which plays an important role in mood, anxiety, and other central nervous system functions.

Seaport’s drug-development programs are based on its Glyph platform, a technology designed to improve the delivery of small-molecule medicines to the brain and enable oral versions of therapies that may otherwise require intravenous or other forms of administration.