Seaport Therapeutics’ (SPTX) Buy Rating Reaffirmed at HC Wainwright

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Thursday, MarketBeat.com reports. They presently have a $50.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 191.55% from the company’s previous close.

SPTX has been the topic of several other reports. Seaport Research Partners set a $46.00 target price on Seaport Therapeutics in a report on Friday, September 25th. Wolfe Research assumed coverage on Seaport Therapeutics in a report on Tuesday, July 7th. They set a “hold” rating on the stock. Weiss Ratings downgraded Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. JonesTrading assumed coverage on Seaport Therapeutics in a report on Wednesday, August 26th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Raymond James Financial assumed coverage on Seaport Therapeutics in a report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Seaport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.57.

Seaport Therapeutics Price Performance

Shares of Seaport Therapeutics stock traded down $1.00 during trading hours on Thursday, reaching $17.15. The stock had a trading volume of 126,005 shares, compared to its average volume of 224,446. The business’s 50 day simple moving average is $22.44. The firm has a market capitalization of $918.04 million and a price-to-earnings ratio of -1.42. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $28.38.

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

Institutional Investors Weigh In On Seaport Therapeutics

Hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at approximately $362,000. Squarepoint Ops LLC acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at approximately $538,000. State Street Corp acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at approximately $1,448,000. Alyeska Investment Group L.P. acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at approximately $1,629,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at approximately $1,793,000.

Seaport Therapeutics Company Profile

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.