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

HC Wainwright reaffirmed their buy rating on shares of Seaport Therapeutics (NASDAQ:SPTX) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $50.00 target price on the stock.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 target price on the stock. Leerink Partners assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price target for the company. JonesTrading initiated coverage on shares of Seaport Therapeutics in a research note on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price objective on the stock. BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a report on Tuesday, May 26th. Finally, Citigroup assumed coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.33.

Seaport Therapeutics Price Performance

SPTX stock opened at $23.34 on Thursday. Seaport Therapeutics has a 12 month low of $14.85 and a 12 month high of $28.38. The company has a 50 day moving average price of $22.50. The company has a market capitalization of $1.25 billion and a price-to-earnings ratio of -1.93.

Seaport Therapeutics (NASDAQ:SPTX) last issued 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). Analysts anticipate that Seaport Therapeutics will post -4.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Hombach purchased 13,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $18.14 per share, with a total value of $235,820.00. Following the completion of the acquisition, the director owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. HighTower Advisors LLC bought a new position in shares of Seaport Therapeutics during the 2nd quarter valued at approximately $362,000. Squarepoint Ops LLC purchased a new position in Seaport Therapeutics during the second quarter valued at approximately $538,000. Alyeska Investment Group L.P. purchased a new position in Seaport Therapeutics during the second quarter valued at approximately $1,629,000. The Manufacturers Life Insurance Company bought a new position in shares of Seaport Therapeutics in the second quarter worth approximately $1,793,000. Finally, Citadel Advisors LLC bought a new position in shares of Seaport Therapeutics in the second quarter worth approximately $4,152,000.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company is working to advance treatments for conditions in areas such as psychiatry and neurology, with the goal of addressing significant limitations associated with existing therapies.

Seaport’s drug-development efforts are supported by its proprietary Glyph platform, which is designed to enable oral delivery of therapeutics that have historically required injection or infusion.