Seaport Therapeutics’ (SPTX) “Buy” Rating Reaffirmed at 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, Marketbeat reports. They presently have a $50.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 179.96% from the stock’s previous close.

A number of other equities analysts also recently commented on SPTX. 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. JonesTrading initiated coverage on shares of Seaport Therapeutics in a research note on Wednesday, August 26th. They set a “buy” rating and a $32.00 price objective for the company. Raymond James Financial initiated 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. Weiss Ratings downgraded shares of Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Finally, Seaport Research Partners set a $46.00 price objective on shares of Seaport Therapeutics in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.57.

Seaport Therapeutics Trading Down 0.4%

Shares of SPTX traded down $0.07 during trading hours on Thursday, reaching $17.86. The stock had a trading volume of 22,967 shares, compared to its average volume of 224,350. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $28.38. The company’s 50-day moving average is $22.54. The company has a market cap of $956.05 million and a P/E ratio of -1.47.

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). Equities analysts forecast that Seaport Therapeutics will post -4.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SPTX. TRV GP VI LLC acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth approximately $44,769,742. Braidwell LP acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth approximately $10,860,000. Citadel Advisors LLC acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth approximately $4,152,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth approximately $1,793,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth approximately $1,629,000.

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.