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

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $50.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 178.86% from the company’s previous close.

A number of other brokerages have also recently commented on SPTX. Seaport Research Partners set a $46.00 target price on shares of Seaport Therapeutics in a research report on Friday, September 25th. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Raymond James Financial assumed coverage on shares of Seaport Therapeutics in a research note on Friday, September 25th. They set a “strong-buy” rating and a $46.00 price objective for the company. JonesTrading began coverage on shares of Seaport Therapeutics in a report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Weiss Ratings cut Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.57.

Seaport Therapeutics Stock Performance

SPTX opened at $17.93 on Thursday. The firm has a market cap of $959.79 million and a P/E ratio of -1.48. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $28.38. The stock’s 50-day moving average is $22.54.

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

Institutional Investors Weigh In On Seaport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in Seaport Therapeutics in the 2nd quarter valued at about $362,000. Squarepoint Ops LLC purchased a new position in Seaport Therapeutics in the second quarter worth approximately $538,000. State Street Corp purchased a new position in Seaport Therapeutics in the second quarter worth approximately $1,448,000. Alyeska Investment Group L.P. acquired a new stake in Seaport Therapeutics during the second quarter worth $1,629,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Seaport Therapeutics in the second quarter valued at $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.