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

Seaport Therapeutics (NASDAQ:SPTX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $50.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 179.17% from the stock’s previous close.

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

Seaport Therapeutics Trading Down 0.1%

Shares of NASDAQ:SPTX traded down $0.02 during midday trading on Thursday, reaching $17.91. 80,224 shares of the company were exchanged, compared to its average volume of 224,837. The company’s fifty day moving average is $22.54. Seaport Therapeutics has a one year low of $14.85 and a one year high of $28.38. The firm has a market capitalization of $958.72 million and a PE ratio of -1.48.

Seaport Therapeutics (NASDAQ:SPTX) last released 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 forecast that Seaport Therapeutics will post -4.52 earnings per share for the current fiscal year.

Institutional Trading of Seaport Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SPTX. TRV GP VI LLC purchased a new position in Seaport Therapeutics during the 2nd quarter valued at about $44,769,742. Braidwell LP bought a new stake in shares of Seaport Therapeutics in the 2nd quarter valued at approximately $10,860,000. Citadel Advisors LLC bought a new stake in shares of Seaport Therapeutics in the 2nd quarter valued at approximately $4,152,000. The Manufacturers Life Insurance Company bought a new stake in shares of Seaport Therapeutics in the 2nd quarter valued at approximately $1,793,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Seaport Therapeutics in the 2nd quarter valued at approximately $1,629,000.

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.