Seaport Therapeutics (NASDAQ:SPTX) Announces Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Seaport Therapeutics (NASDAQ:SPTX) posted its quarterly earnings results on Monday. The company reported ($10.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($10.64) by $0.30, Zacks reports.

Seaport Therapeutics Price Performance

SPTX opened at $17.66 on Wednesday. Seaport Therapeutics has a one year low of $14.85 and a one year high of $23.00.

Analyst Upgrades and Downgrades

SPTX has been the subject of several recent research reports. Wall Street Zen upgraded Seaport Therapeutics to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. started coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 target price on the stock. UBS Group lowered shares of Seaport Therapeutics to a “sell” rating in a report on Tuesday. Seaport Research Partners set a $42.00 price target on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. Finally, Leerink Partners started coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Seaport Therapeutics presently has a consensus rating of “Hold” and an average price target of $35.50.

Insider Activity

In other Seaport Therapeutics news, major shareholder Arch Venture Partners Xii, Llc bought 1,100,000 shares of Seaport Therapeutics stock in a transaction dated Monday, May 4th. The shares were purchased at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the purchase, the insider owned 6,294,951 shares of the company’s stock, valued at approximately $113,309,118. This represents a 21.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.